Geely became the biggest investor in Mercedes-Benz owner Daimler, after it bought a 9.7% stake. Geely says it hopes to co-operate with the German car giant on electric cars.

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

Geely's $9bn investment has raised some concerns that the Chinese firm will seek access to technology and innovation in exchange for the deal.

China is widely considered the most important future market for global car manufacturers.

In a statement by Geely, Mr Li said he wanted to "accompany Daimler on its way to becoming the world's leading electro-mobility provider", and was looking for a long-term commitment.

Describing what he called a "strategic vision", he argued that "invaders from outside" the traditional car sector, meant firms needed to co-operate through partnerships and alliances.

Traditional carmakers are increasingly facing competition from newcomers from the technology sector, including Tesla and the Google-associated Waymo.

source: BBC News