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”.
Ryan has spent most of his career in online media, writing about everything from sport to politics and other forms of crime. But his true passion – reignited by a 1971 Austin Mini Mk3 still tucked lifeless in a dark corner of his garage – is of the automotive variety.