--FILE--Li Shufu, Chairman of Zhejiang Geely Holding Group Co., Ltd., arrives at the Great Hall of the People to attend the second plenary session of the Fourth Session of the 12th National Committee of the CPPCC (Chinese People's Political Consultative Conference) in Beijing, China, 10 March 2016. Chinese carmaker Geely has built up an almost 10 percent stake in Daimler in a US$9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany¯s Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision, " Li said.
