Daimler CEO says Li Shufu partnership requires consensus from BAIC

[March 06, 2018]  GENEVA (Reuters) - Daimler <DAIGn.DE> Chief Executive Dieter Zetsche on Monday welcomed Geely [GEELY.UL] Chairman Li Shufu as a new shareholder and said any industrial alliance will depend on whether current China partner BAIC <1958.HK> agrees.

 Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song/File Photo

The meeting with Li was constructive, Zetsche said and next steps will be decided at a later stage.

"We would like to have consensus with our Chinese partner," Zetsche said, referring to BAIC, the Chinese company with which Daimler operates the Beijing Benz factory in Beijing.

The Geely chairman's move may spur BAIC into renewing efforts to take a stake in Daimler, Zetsche said, adding that this was a "speculative" assumption on his part.

(Reporting by Edward Taylor; Editing by Christoph Steitz)

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