By Bloomberg• 16 April 2021
Caption
A steering wheel sits in the Mercedes-Benz GLE sport utility vehicle (SUV), manufactured by Daimler AG, at an event ahead of the Shanghai Auto Show in Shanghai, China, on Monday, April 15, 2019. China has been one of the few bright spots for the Mercedes-maker Daimler so far this year. Photographer: Qilai Shen/Bloomberg
Business Maverick
By Bloomberg• 16 April 2021
Caption
A steering wheel sits in the Mercedes-Benz GLE sport utility vehicle (SUV), manufactured by Daimler AG, at an event ahead of the Shanghai Auto Show in Shanghai, China, on Monday, April 15, 2019. China has been one of the few bright spots for the Mercedes-maker Daimler so far this year. Photographer: Qilai Shen/Bloomberg
Provided by Dow Jones By Martin Mou Geely Automobile Holdings Ltd. s shares soared in early trade on Friday after the Chinese auto giant launched the first model from its new electric-vehicle brand, Zeekr. Geely s Hong Kong-listed shares rose as much as 10% and were last 8.4% higher at HK$22.05, a sharp jump for the auto giant, whose stock price had slumped in recent weeks from a record high in late January. The company said the first Zeekr model 001 is positioned for the premium EV segment and the brand would also offer a fast-charging network and battery-rental services. The Zeekr 001 competes directly with Tesla Inc. s Model 3, Citi said.
Daimler Profit Tops Estimates as China Leads Sales Recovery
Bloomberg 2 hrs ago Christoph Rauwald and Peter Vercoe
(Bloomberg) Daimler AG reported significantly better first-quarter earnings than analysts expected, driven by strong demand for Mercedes-Benz cars, particularly in China.
Group earnings before interest and tax was 5.75 billion euros ($6.9 billion) for the first three months of the year, compared with analysts’ consensus estimate for 4.96 billion euros, the carmaker said in a preliminary earnings statement Friday. Daimler cited sales momentum in all major regions as well as cost cuts.
“We continue to execute on our ambitions in a very encouraging market environment,” Chief Executive Officer Ola Kaellenius said in the statement. “Our systematic efforts to lower the break-even point of the company are becoming increasingly visible.”
Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about US$5bil
HONG KONG: Zhejiang Geely Holding Group Co is considering raising about US$1bil (RM4.13bil) to help expand its iconic British sports and racing automotive business Lotus Cars into the electric vehicles (EVs) market in China, according to people familiar with the matter.
Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about US$5bil, the people said, asking not to be identified because the matter is private.
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