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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Mercedes-Benz S63 AMG officially teased in mini video

The followup to the Mercedes-Benz S550, the S63 AMG, will sport a biturbocharged V8 that will likely turn out around 550 horsepower. The new engine is probably the 5.5-liter, biturbocharged V-8 that's been popping up in everything from the ML63 to the E63 AMG. The front fascia is more aggressive, which shouldn't come as a surprise, while a meaty exhaust setup can be found out back.
We managed to pick all that up from a short, 17-second video posted by MB. The original video that unveiled the S63 AMG has since been pulled down, making this YouTube clip the best look we now have at the new super sedan, at least until the Germans give up the goods for real.
Be sure to check out the video below, along with our original posting on the S63 AMG.

Mercedes GLE to debut in NY, will get plug-in variant

On the eve of the 2015 Detroit Auto Show, Dieter Zetsche, Chairman of Daimler AG, said that 2015 will be the "Year of the SUV" at Mercedes-Benz. This means a host of new and updated sport-utility and crossover models, kicked off with the debut of the GLE-Class Coupe (pictured above) – in 450 AMG Sport and Mercedes-AMG GLE63 variants – here in the Motor City. But there's far more in store throughout the year. First, Mercedes has confirmed it will debut the non-coupe GLE-Class – the M-Class replacement – at the New York Auto Show in April. It will share most of its architecture with the GLE Coupe revealed here in Detroit, but will also come with a plug-in hybrid option. Mercedes-Benz debuted an S-Class Plug-In Hybrid at the Los Angeles Auto Show last November, and will expand this technology to other core models in its range. First, we will see the C350 Plug-In Hybrid, which also makes its debut here in Detroit. Beyond that, Mercedes has confirmed that the GLE-Class will benefit from a plug-in option, as will the upcoming GLC-Class crossover – the renamed replacement for the GLK. No official timing has been given for the GLC, but Mercedes confirms that both it and its largest utility vehicle – the GLS-Class (currently known as the GL-Class) – will debut "later this year." Year of the SUV, indeed. Featured Gallery 2016 Mercedes-AMG GLE63 Coupe View 9 Photos Green Detroit Auto Show New York Auto Show Mercedes-Benz Crossover SUV Hybrid Luxury PHEV 2015 Detroit Auto Show mercedes glk-class mercedes gl-class mercedes gle-class mercedes glc-class mercedes gls-class