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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:

2015 Australian Grand Prix all about grooves and trenches [spoilers]

We can't remember the last time 90 percent of the action in Formula One had nothing to do with cars setting timed laps. Yet that's was the situation at the Australian Grand Prix, continuing the antics from a scarcely believable off-season with blow-ups, driver and team absences, a lawsuit, and a clear need for some teams to get down and give us 50 pit stops. Nothing much has changed from a regulation standpoint, and at the front of the field nothing has changed at all. Lewis Hamilton in the Mercedes-AMG Petronas claimed the first position on the grid like someone put a sign on it that read, "Reserved for Mr. Hamilton;" teammate Nico Rosberg was 0.6 behind in second, Felipe Massa in the Williams was 1.4 seconds back in third. Sebastian Vettel proved that Ferrari didn't do another Groundhog Day routine this off-season, slotting into fourth. His teammate Kimi Raikkonen was not even four-hundredths of a second behind, ahead of Valtteri Bottas in the second Williams, Daniel Ricciardo in the first Infiniti Red Bull Racing, and rookie Carlos Sainz, Jr. in the first Toro Rosso. Lotus, now powered by Mercedes, got both cars into the top ten with Romain Grosjean in ninth, Pastor Maldonado in the final spot. However, even though the regulations are almost all carryover, in actual fact, everything has changed this year. Mercedes is even faster. Renault is even worse. Ferrari and Lotus are a lot better. Toro Rosso is looking like anything but a junior team. And McLaren is – well, let's not even get into that yet. Furthermore, this weekend was shambles: 15 cars started the race, the smallest naturally-occurring grid since 1963. Manor couldn't get its cars ready before qualifying. Bottas had to pull out after qualifying when he tore a disc in his back and couldn't pass the medical clearance tests. The gearbox in Daniil Kvyat's Red Bull gave out on the lap from the pit to the grid, and to give misery some company, the Honda in Kevin Magnussen's McLaren blew up on the same lap. When the lights went out, Hamilton ran away and was more than a second ahead of his teammate at the end of Lap 1. The advantage disappeared, though, because behind him, at the first corner, we got our first pile-up. As Raikkonen drove around the outside of Vettel at the right-hand Turn 1 it looked like Vettel, going over the kerbing, hopped to his left and bounced into Raikkonen.

Recharge Wrap-up: KillaJoule hits 270 mph; Mercedes B-Class ED gets PlugShare

The Mercedes-Benz B-Class Electric Drive will get its own version of the PlugShare charging-station locator app. Developed by Recargo with the help of Daimler, the vehicle-specific app will be integrated into the car's navigation system. The system maps the location of nearby charging stations from various networks. So far, Mercedes-Benz doesn't offer a universal pay service for the various charging networks, like those offered by BMW and Nissan. Read more at Green Car Reports. HyperSolar uses solar energy to make hydrogen from water. Without using electrolyzers, HyperSolar uses a photochemical process to separate and capture the hydrogen in the water, which can then be used for clean energy, such as automotive fuel cells. The solar devices are submerged in water inside a container, and sunlight powers the device to free the hydrogen. HyperSolar claims that its process is more efficient and cost effective than other methods used to produce hydrogen from water. See some demonstrations in the videos below and learn more at HyperSolar's website. Eva Hakansson drove the KillaJoule electric motorcycle to a top speed of 270.224 miles per hour. After a computer model showed a possibility of about 270 mph, the team took the motorcycle with sidecar out to the salt flats for Mike Cook's Shootout. Everything went smoothly, and Hakansson easily surpassed speeds of the 249.1-mph world record she set a few weeks ago. The team is calling it quits for the season, but will make some tweaks to the KillaJoule in hopes of getting 300 mph out of the red bullet next year. Read more at KillaCycle Racing, or at Business Insider. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.