smart Global GmbH has issued a clarification statement denying the withdrawal of Mercedes-Benz and Geely from its shareholder ranks. The official statement reads, "Currently, smart Global GmbH remains a joint venture company held in equal shares by Mercedes-Benz and Geely. To meet the needs of business development and seize market opportunities, smart will adjust its strategic deployment flexibly."
On June 7th, Mercedes-Benz AG withdrew from the shareholder position in Smart Automobile Co., Ltd., followed by Geely on June 25th. Currently, SMART MOBILITY PTE. LTD. and SMART MOBILITY INTERNATIONAL PTE. LTD. have become the controlling shareholders of Smart Automobile Co., Ltd., with each holding a 50% stake. As a result, the company's corporate type has changed from a Sino-foreign joint venture limited liability company to a foreign-invested non-wholly-owned limited liability company.
This change in shareholding structure further benefits smart in expanding its overseas markets. Currently, smart models have begun deliveries in Europe and are available for sale in the German and French markets.
