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Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

2016 Mercedes-Benz C450 AMG Sport bridges the gap between C300 and C63

Mercedes-Benz is looking to its new C-Class for the second member of its new AMG Sport line, unveiling the C450 AMG 4Matic at today's 2015 Detroit Auto Show. Like the GLE450 AMG Coupe that debuted in early December, this particular C-Class bridges the gap between the standard C300 and the new Mercedes-AMG C63. Considering this, the C450 builds on the standard C400's 3.0-liter, twin-turbocharged V6, rather than getting a bespoke, high-performance engine. Output is up from 329 horsepower to 362 ponies, while torque is turned up from 354 pound-feet to 384 lb-ft. The result of these upgrades is a zippy 0-60-mile-per-hour sprint of 4.9 seconds and an electronically limited top speed of 155 mph. Those figures are identical to the Audi S4, while the BMW 335i xDrive is just a smidge quicker to 60, getting there in 4.8 seconds (the Bimmer is, however, limited to just 130 mph). Shuffling the 3.0-liter's grunt to a 4Matic all-wheel-drive system is the responsibility of Mercedes 7G-Tronic automatic gearbox that, despite not being a member of AMG's Speedshift dual-clutch family, still has its own mind for performance. Along with a quick-shifting, automatic Sport Plus mode, the C450 has a full manual shifting mode that, notably, will not automatically upshift, even when the engine is bouncing off the rev limiter. The C450 AMG hasn't only had its straight-line abilities boosted. Mercedes saw fit to include an AMG adaptive sport suspension with three-stage adjustable dampers, which have been pilfered from the C63 AMG. Paired with the aforementioned all-wheel-drive system, which can send up to two-thirds of its power to the rear axle, it's a fair to say this particular sedan should be one of the brand's more agile and entertaining. Beyond the mechanical bits, Mercedes has beefed up the exterior and interior aesthetics for its second AMG Sport model. The exterior has been touched up with new, staggered 18-inch, five-spoke wheels (or optional 19s), a more aggressive front fascia, a new rear bumper with a matte iridium diffuser, distinctive AMG badges and plenty of chrome and gloss-black elements. The cabin, meanwhile, is home to black MB Tex upholstery with red contrast stitching on the dash and doors, while AMG-specific upholstery lines the sport seats. The flat-bottomed, three-spokes steering wheel, meanwhile, is finished in Nappa leather. We'll have more on the 2016 C450 AMG Sport, including live images, coming soon from the floor of the 2015 Detroit Auto Show.

Electric Hummer is official, and Tesla's got momentum | Autoblog Podcast #612

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Senior Editor, Green, John Beltz Snyder. They start things off with a discussion of the week's news: GMC is launching an electric Hummer truck with a Super Bowl ad, and Tesla was profitable in Q4, sending its stock soaring. Then they talk about what they've been driving, including a super badass Mercedes-Benz Sprinter, the Kia Telluride and their long-term Volvo S60 PHEV. There's no "Spend My Money" segment this week, so send in your questions for future podcast episodes. Autoblog Podcast #612 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Hummer returns as electric GMC truck Further reading: Grappling with the dark side of EVs Tesla profitable for second straight quarter Cars we're driving: Mercedes-Benz Sprinter 3500XD Kia Telluride (whose safety tech won Autoblog's 2020 Technology of the Year Award) Long-term Volvo S60 T8 update Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.