Stuttgart-based carmaker, Daimler recently took a 12% stake in Beijing Automotive Group (valued at USD 845 million) and during a panel discussion in Berlin on Saturday, Daimler Chief Executive Dieter Zetsche, said the carmarker would welcome a Chinese investor without showing any sign that it will happen.
"We would welcome Chinese investment, although we're not desperately looking for that, because it's better for us when China is interested in our fate," Zetsche replied and added, "the reason is certainly not to look for more equity. We rather have the opposite problem of very high equity in our company."
However he didn't turn down the idea, as he stated that the 'possible' Chinese investor would need to buy shares in the market and that "no other transactions" would be involved. "We don't know if that's going to happen," the CEO said.
Daimler is continually seeking to revive its operations in mainland China, where the luxury car maker has fallen behind rivals such as BMW and VW's Audi, and has literally fallen out with its dealers.
Beijing Automotive signed an agreement last week with Daimler that will allow Daimler to take 12% equity stake in BAIC Motor as well as two seats on the board. Thus, expanding its footprint presence in China which is a fast-growing auto market.
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