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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.

US buyers show little interest in big hybrids

The idea of producing large, luxury-vehicle hybrids is turning into a "what were they thinking?" exercise in futility, USA Today reports. General Motors is discontinuing hybrid versions of the Cadillac Escalade, Chevrolet Tahoe and GMC Yukon SUVs, while Mercedes-Benz and Toyota's Lexus division are doing the same with their S-Class hybrid and LS hybrid sedans, respectively. The culprit? Big price increases for fuel economy improvements that border on the unimpressive. Granted, the Escalade hybrid gets 31 percent better fuel economy than the standard version, but that still maps out to a combined fuel-efficiency rating of just 21 miles per gallon. That can be seen as a worthwhile increase, if it didn't cost over $8,000 extra. The 2014 Escalade Hybrid, for example, starts at $74,425 while the non-hybrid can be had for $66,295. Meanwhile, the Lexus full-size hybrid costs $6,000 more than the regular version but only gets 1-2 mpg better combined fuel economy. The result of all these high costs? Low sales. Through April, GM sold 82 of its hybrid SUVs and pickups, down from 541 a year earlier. And the LS hybrid sales were in single-digit territory for April. That isn't stopping Lexus from promoting its hybrids as the right solution (with the wrong facts), though. There are still automakers giving big hybrid vehicles a shot, though. Nissan's Infiniti division is selling a hybrid version of its QX60 and says an impressive 10 percent of QX60 buyers choose the hybrid, which costs just $3,000 more. Looks like money talks. Featured Gallery 2015 Cadillac Escalade: First Drive View 35 Photos News Source: USA TodayImage Credit: Copyright 2014 Brandon Turkus / AOL Green Infiniti Lexus Mercedes-Benz Hybrid lexus ls gmc yukon mercedes-benz s-class infiniti qx60 chevrolet tahoe

Recharge Wrap-Up: No new Smart Roadster, Africa to UK on one tank, Duke's efficient axial engine [w/videos]

Smart will not make another generation of the Roadster, but a Smart SUV might be in the cards. According to Smart's CEO, Annette Winkler, "The Roadster isn't a profitable business case. Everybody is keen on the car, but nobody wants to pay the bill." What Car? states that Smart is likely planning a baby SUV to take on the Nissan Juke and its ilk. But for the immediate future, Winkler says Smart "must focus on how we can maximize potential of the Fortwo and Forfour. That is strategy number one." Read more over at What Car?. A Mercedes-Benz E300 Bluetec Hybrid made the 1,223-mile trek from Africa to the UK on just one tank of fuel. Driven by Andrew Frankel of Autocar, the diesel hybrid left Tangier, Morocco with a full tank of gas (using the optional 80-liter fuel tank), and arrived in Goodwood with the car indicating 100 miles of range left. Frankel and his co-driver averaged 61.2 miles per gallon (73.6 mpg UK) on the intercontinental journey through four countries, despite elevation changes and a traffic jam. See the first video below for more information, or check out the article at Carscoops. Duke Engines promises simplicity and efficiency from the axial engine it's developing. Rather than lining up the cylinders, this engine arranges them in a circle, which allows Duke to avoid unnecessary weight. The five-cylinder, four-stroke motor manages the same amount of powerstrokes per revolution as a standard six-cylinder mill, but weighs 30 percent less. It also has much fewer parts, says Duke. Its high compression ratios mean more power with less fuel, which adds up to more efficiency and fewer emissions. The second of the two videos below, which we first found over at Sploid, explains Duke's axial engine. 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. Related Gallery Smart Roadster Patents Related Gallery Mercedes-Benz E400 Hybrid and E300 BlueTec Hybrid: Detroit 2012 Photos View 13 Photos News Source: Carscoops, What Car?, Sploid via World Car Fans Green Mercedes-Benz smart Fuel Efficiency Technology Emerging Technologies Diesel Vehicles Hybrid Videos recharge wrapup diesel hybrid smart roadster