A fresh report out of Germany suggests that Daimler could buy a small stake in Volvo Cars and end up supplying the Swedish automaker with engines from Mercedes-Benz.
According to Automotive News Europe, German publication Manager Magazin reports that Daimler – Mercedes-Benz’s parent company – could buy “a couple of percent” of Volvo Cars.
The news comes after Chinese businessman Li Shufu, who is also the chairperson at Geely, in February bought a 9,69% stake in Daimler, making him the multinational firm’s biggest single shareholder. Geely, of course, already owns Volvo Cars and assumed a controlling stake in Lotus in 2017.
The report added that while Volvo Cars opted not to comment, a spokesperson for Daimler branded the suggestion as “pure speculation” on which the automaker would “not comment”.
