China Investment Corp Interested in Daimler Stake

China Investment Corp Interested in Daimler Stake

The China Investment Corporation, the country’s investment vehicle, is interested in purchasing a stake in Daimler AG between 4 and 10 percent according to a Chinese media outlet.

The China investment fund declined comment on the report, but Daimler CEO Dieter Zetsche has said that he would welcome a Chinese investor. The parent company of Mercedes-Benz is currently revamping its Chinese operations amidst slumping sales in the country. Last month, Mercedes’ sales in China dropped almost 19 percent compared to last year, moving 18,910 units.

Meanwhile, German counterparts Audi and BMW are both reporting strong sales in China. Audi sales in China increased nearly 30 percent in 2012 compared to 2011, moving a total of 405,838 vehicles last year.

Mercedes is currently reorganizing its sales network in China, taking separate entities for local and imported cars and combining them into one company. Daimler has also recently assigned Hubertus Troska in a new board position that will be responsible for strictly the Chinese market.

[Source: Automotive News]

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