Daimler sold its stake in Renault

Daimler sold its stake in Renault

FineAuto

In 2010, Daimler agreed on a strategic partnership with the Renault-Nissan alliance, and at the same time received 3.1 percent of the shares of both companies, and they, in turn, divided the same stake in Daimler in half among themselves. In the spring of this year, both Renault and Nissan sold their shares, and now Daimler has followed suit: he sold all his Renault shares for a total of 305 million euros.

In March 2021, Renault got rid of Daimler shares, selling them for 1.15 billion euros, and in May Nissan gained 1.19 billion euros from the sale of its share. Now Daimler is out of the game, as cross-shareholding is no longer a prerequisite for further cooperation.

Mercedes-Benz A- and B-Class cars are equipped with Renault engines, and Renault Twingo divides the units and assemblies of Smart, owned by Daimler.

However, not all partnership projects were successful, an example of this is the Mercedes X-Class pickup truck, developed on the basis of Nissan Navara, which failed in the market. The model was removed from the assembly line in mid-2020, several years after its release, without the prospect of a second generation and without a successor.

Meanwhile, 9.69 percent of Daimler shares are still owned by Geely Holding Group, which owns the brands Geely Auto, Lotus, Lynk & Co, Proton and Volvo. In 2019, Geely acquired a 50 percent stake in smart from Daimler and in 2021 showcased the brand’s first state-of-the-art model: the B-class electric crossover, which will be sold in China and Germany.

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