Geely: all options in the table on Volvo AB shares

“Anything is possible in the future,” said Oscarson. “I have no intention of changing my position at the company for the time being.”

He did not rule out Geely taking a more active ownership role, such as requesting a seat on the board of directors or participating in a nominating committee. It owns Web and controls 8.2% of Volvo’s share capital and 16% of its voting rights. Swedish investment firm Industrivarden AB is the largest stakeholder with 27.8% of the vote.

Geely bought a stake in Volvo from activist investor Cevian Capital AB in 2018 and viewed the holding then and now as a “strategically and financially profitable investment,” Oscarson said. A withdrawal from Daimler would not change this, he said.

Sweden’s Dagens Industri said Tuesday that Volvo is unlikely to give Geely a board seat because of concerns that China’s influence will hurt the truck maker’s U.S. business prospects, the newspaper said on condition of anonymity. Citing a source, he said.

Volvo declined to comment.