Geely, a private Chinese automaker, once again made a big deal in overseas investment, this time Chairman Li Shufu took up the matter by himself. According to the latest regulatory document, through a company called Tenaclou3 Prospect Investment Ltd., Mr. Li Shufu, founder and chairman of Zhejiang Geely Holding Group, holds a 9.7% stake in German automaker Daimler AG, with a market capitalization of nearly 9 billion USD. This shareholding ratio means that Li Dafu is the largest shareholder in Daimler, which owns Mercedes-Benz and other car brands. Daimler spokesman said the acquisition of shares is a personal investment by Mr. Li. However, Li Shufu clarified that this is the stake of the Geely Holding Group, arranging funds through the overseas capital market, without the use of funds within China.The entire transaction is done in a completely open and transparent environment. Reuters cited sources said the strategic goal of Li Shufu is to form a consortium of industrywith Daimler. He believes that under the new competitive situation, only one or two of the existing manufacturers may have survived, and manufacturers should join forces to invest in the future.