Chinese carmaker Geely became biggest investor in Mercedes-Benz owner Daimler

Chinese carmaker Geely has become the biggest investor in Mercedes-Benz owner Daimler, saying it hopes to cooperate with the German giant on electric cars.

Geely shares jumped in Hong Kong after the deal to buy almost 10% of the firm was announced over the weekend.

The Chinese carmaker already fully-owns Sweden's Volvo and black cab maker London Taxi Company.

Chairman Li Shufu is expected to meet Daimler executives on Monday and German government officials later in the week.

Geely's 9.7% stake in the high profile German carmaker has raised some concerns that the Chinese firm will seek access to technology and innovation in exchange for the deal.

But the German government said it saw "no need to act in terms of competition rules or foreign investment rules".

Read more on BBC.

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