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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

2024 Mercedes-Maybach EQS 680 SUV tops $180,000

The 2024 Mercedes-Maybach EQS 680 SUV is staking claim to the "next era of driving pleasure," but that pleasure will come at a steep price. The company officially announced Wednesday that the super-lux, battery-electric SUV starts at $181,050 (assuming the $1,150 destination fee doesn't increase for 2024) — $50,000 more than the standard Mercedes-Benz EQS 580. And you can order one starting today.  While U.S. figures are still partially up in the air, we do have some preliminary specs. To go with its 649-horsepower output, the EQS 680 SUV was rated at 600 km of total range on the WLTP cycle, which works out to about 373 miles. While Mercedes-Benz doesn't have EPA figures to offer, the EQS 580 is rated at approximately 340 miles with the same pack and a very similar (613 km) WLTP-certified range. 0-60 comes in just 4.1 seconds on the way to a top speed of 130 MPH. Charging the EQS 680 SUV back up from 0% will take a bit longer — nearly 13 hours on a Level II AC charger — but DC fast charging (10-80%) takes just 31 minutes at its max throughput rate of 200 kW.  The Mercedes-Maybach EQS 680 SUV is available with five different two-tone color combinations. All of the two-tone options will feature the lighter color on the bottom half of the SUV, since the darker tone up top better accentuates the vehicleÂ’s aerodynamics. Maybach-specific design details include vertical metal-look lines in the EQSÂ’ faux grille and a Mercedes-Benz star ornament on the hood.  ThereÂ’s a Maybach logo on the D-pillar and the taillights have a unique running light pattern. Mercedes-Benz says 21-inch wheels are standard for now; larger 22-inch wheels, as well as a sixth two-tone paint option, will come later. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

European automakers gear up for Brazilian production

Brazil is the place to be, apparently. Toyota has been investing in the South American country, as has BMW, which announced a $261 million investment in October 2012, on the heels of an Audi factory announcement in San José Chiapa. The high-end immigration is only set to continue, as Mercedes-Benz and Jaguar-Land Rover have both announced plans to set up manufacturing operations there.
Mercedes is the big news here, as its new facility will see the German manufacturer invest 170-million euros for production of its next-generation C-Class and upcoming GLA-Class. "Brazil is an important future market. With our local production we accept the challenge and take on the competition," noted Andreas Renschler, Management Board member for Production and Procurement at Mercedes-Benz Cars and Mercedes-Benz Vans. Production is expected to begin by 2016.
Jaguar-Land Rover, meanwhile, isn't so concrete in its plans. The news of its investment in South America comes from a job posting for a plant quality manager in Brazil that was picked up by the UK's AutoCar. "Portuguese language skills will be definite advantage" for interested candidates, according to the job listing. The want ad follows on the heels of remarks by Jaguar Land Rover's Dr. Ralph Speth, who said there are "very intensive discussions" with Brazil's government. Unlike Mercedes, there's no mention of which vehicles will be produced in South America, although AutoCar thinks the Freelander, sold in the US as the LR2, is a leading contender.