"Daimler is an outstanding company with a first-class management. It will be an honor to support this unique team under the leadership of Dieter Zetsche in the future,” Li Shufu, chairman and owner of Zhejiang Geely Holding Group and Geely Group said in a statement.

For the time being neither Geely Group nor any other company in the Zhejiang Geely Holding Group intend to acquire additional shares, Geely said.

“I will fully abide by the company charter and governance structure of Daimler and respect its values and culture,” Li said in the statement.

(Reporting by Edward Taylor; Editing by Mark Potter)

Stocks treated in this article : Daimler, Geely Automobile Holdings Ltd