LexFather

Shanghai, April 22 (Gasgoo.com) Daimler is holding talks with Chinese sovereign wealth fund CIC over a possible investment by Beijing, reports Reuters, citing a German newspaper.

"We have met several times in the past, and talks have not in principle been broken off," Chief Executive Dieter Zetsche told German daily Frankfurter Allgemeine Zeitung.

Chinese state investment fund China Investment Corporation (CIC) have seen sharp declines in its investments in Wall Street bank Morgan Stanley and U.S. private equity house Blackstone Group LP since buying stakes in the two firms. The company said it is considering further investments in Europe.

Mr. Zetsche pointed that it was a success that International Petroleum Investment Company (IPIC) recently bought into Daimler as the company gained financial security following the transaction. Abu Dhabi-based IPIC acquired a stake of 9.1% in Daimler for EUR 1.95 billion on March 21.

A Daimler spokesman said the company was constantly in talks with current and potential investors.

Daimler launched its Smart minicar in China at prices ranging from 158,000 to 206,000 yuan ($23,110-30,130) on April 8. It will be available in 17 dealerships in 13 Chinese cities.


http://autonews.gasgoo.com/auto-news...alth-fund.html

CDNROCKIES

Like I mentioned in your other threads about the crap China is producing.....they should just wait a couple of weeks until Chrysler goes into receivership and then by them up at pennies on the dollar.

I can't believe I'm about to say this....but even Chrysler builds better looking vehicles than the crap that you posted.

JKA.nyc

The Chinese car industry is still in its baby stages, what do you expect? It's like expecting a 13 year old to write a novel.