On October 24, 2018, Geely Group (New Business) Co., Ltd., managed by Daimler Travel Service Co., Ltd. and Zhejiang Geely Holding Group, announced that the two parties will establish a joint venture company in China to provide high-end private car travel services. The signing ceremony was held at the headquarters in Daimler, Stuttgart, Germany.
The headquarters of the joint venture company will be located in Hangzhou, with a 50:50 shareholding ratio. It plans to provide high-end car travel services in some cities in China, including high-end models including but not limited to the Mercedes-Benz brand. The initial models include the Mercedes-Benz S-Class, the E-Class, the V-Class luxury utility vehicle and the Mercedes-Maybach sedan. In the future, the Geely Group's high-end pure electric vehicles will also be used.
At present, the business terms and investment plans of the joint venture company have not been disclosed, and the establishment and operation of the joint venture company must be approved by the merger and acquisition regulatory agency.