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October 25, 2018 at 03:07AM https://ift.tt/2ufVjKI Steve Kenton THESE POSTS ARE NOT OUR ENDORSEMENT
It has been revealed that Geely and Daimler are to join forces, and launch a premium ride-hailing service in China.
The partnership, which has been reported in City AM, will see Didi Chuxing, who merged with Uber in 2016, facie stiff competition from the two motoring giants.
It is alleged that the current Chinese market is worth almost £18 billion.
The deal will see Mercedes Benz S-Class, E-Class and V-Class cars used as the vehicles of choice in the quest to provide a premium service.
In early 2018, Geely chairman Li Shufu bought a 9.69 per cent stake in Mercedes-Benz.
It is believed the current valuation of the Chinese market shows that it is worth more than all of the other ride hailing markets put together.
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