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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:

Recharge Wrap-up: Nissan reveals GT-R LM Nismo, NRG plans eVgo expansion

Nissan has officially revealed the GT-R LM Nismo LMP1 car. The hybrid Le Mans racer uses a biturbocharged 3.0-liter V-6 up front to power the front wheels, plus a kinetic energy recovery system for an extra boost. Football fans likely caught a glimpse of the car in Nissan's With Dad commercial that aired during the Super Bowl, but the company has a couple more videos that show the car off quite well provided below. "This is innovation that excites," Says Nismo president Shoichi Miyatani. "Sustainability is at the top of our agenda, and the technical regulations for Le Mans give us the freedom to pursue new ideas in this area." Read more at Green Car Congress, or in the press release below. The NRG eVgo charging network now operates 120 DC fast charging stations in California. 60 of those are "Freedom Stations," offering both CHAdeMO and CCS charging cables, and 52 more of these are in the works. NRG plans to expand the eVgo network to 25 US markets in the next two years (up from the current 10), including chargers in Tennessee, as well as linking cities along the near entirety of the East and West coasts. Read more at Green Car Reports. Tesla has opened its 20th Supercharger station in the UK. The company says it will offer full UK coverage by the end of 2015. As of now, the Supercharger network extends as far north as Edinburgh, southwest to Exeter, and to Maidstone in the southeast, which is just up the road from access to mainland Europe through the English Channel Tunnel. Tesla operates more than 1,600 Superchargers worldwide at over 300 stations, with 129 stations and more than 670 Superchargers in Europe. Read more at Hybrid Cars. 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. Nissan reveals Le Mans challenger during Super Bowl - First glimpse of race-ready Nissan GT-R LM NISMO during Super Bowl XLIX - Innovative new LM P1 racing car is like no other Le Mans car - TAG Heuer, Motul and Michelin revealed as Nissan LM P1 partners YOKOHAMA, Japan Í– Nissan today declared itself ready to take on the world's best sports car manufacturers after revealing a glimpse of its Le Mans challenger – the Nissan GT-R LM NISMO – during the commercial break for Super Bowl XLIX. Last year's Super Bowl was the most watched television program in U.S. television history with over 110 million viewers.

Firing of M-B boss upheld

Ernst Lieb, the disgraced former CEO of American operations for Mercedes-Benz, will not be getting any more money from the Silver Arrow'd teat. His wrongful dismissal suit against MB's parent company, Daimler, was tossed out of a German appeals panel. This, followed the initial rejection by a lower court last year.
According to court documents acquired by Automotive News, Lieb was found to have "accepted payments of substantial value to which he - as he was aware - had no claim."
Lieb took over American operations from former CEO Paul Halata in September of 2006. Reports surfaced in October of 2011 that Lieb was dismissed from his posting at MB, with a variety of rumors swirling. Eventually, news broke that financial wrong doing was responsible for the German's firing.