FRANKFURT -- While confirming that Chinese entrepreneur Li Shufu, Chairman of Zhejiang Geely Holding Group, has acquired 9.69 percent of the Daimler AG shares, the German automotive manufacturer said in a press information sent to Xinhua on Saturday that it welcomes the new long-term shareholder.

"Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder," said the German automaker giant.

The Stuttgart-based carmaker appreciated Li Shufu as "an especially knowledgeable Chinese entrepreneur with clear vision for the future, with whom one could constructive discuss the change in the industry."

With the purchase of the nearly 9.7 percent of shares, Geely has become the largest single shareholder of Daimler AG.

Last year, Daimler achieved significant sales growth of Mercedes-Benz cars in China and also increased the share of locally produced.

The German automaker said in the press release that it had got "a broad-based portfolio and footprint in China, and with Beijing Automotive Industry Holding (BAIC) a strong partner on site."

Geely, a Chinese multinational automobile manufacturer headquartered in east China's Hangzhou city, has owned Swedish passenger carmaker Volvo Cars since 2010.

At the end of last year, Geely also became the largest shareholder of the commercial vehicle manufacturer Volvo Trucks.