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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.

Mercedes-Maybach G650 Landaulet is the ultimate safari machine

Update: A Mercedes representative has informed us that the Mercedes-Maybach G650 Landaulet will not be available in the United States. The text has been updated to reflect this. Vehicles such as the Mercedes-Benz G63 AMG 6x6 and G500 4x42 are all well and good, but they have one key issue: They simply aren't extravagant enough. Now we know that sounds insane because one of those vehicles has six driven wheels and the other is available in tennis-ball green. But they must not be decadent enough because Mercedes went a step further with the new Mercedes-Maybach G650 Landaulet. While the most obvious change here is the soft-top, which will make this perfect for the wealthy to view wildlife on private safaris, we should start under the hood. The previous two monster G-Wagens made do with lowly V8s. This one features a twin-turbocharged V12 making 630 horsepower and 738 lb-ft of torque. Like its predecessors, this G650 uses a four-wheel-drive system with front, center, and rear differential locks, and sends power to solid portal axles front and rear. These axles move the differential and drive axles above the wheel centers for additional ground clearance. Inside, the rear passengers will be in the lap of luxury, even while the driver is navigating particularly harsh terrain. The soft top can be electrically raised or lowered, as can a glass partition to the driver's compartment. The two individual rear seats can be fully reclined, and leg rests deploy from below, taking full advantage of the truck's long wheelbase. This would likely make for an amazing vehicle for stargazing. The passengers also have access to folding tables, 10-inch LCD displays, and heated, cooled, and illuminated cup holders. Only 99 of these G650s will be built. Mercedes will show the SUV at this year's Geneva show, and it will hit the market this fall. Mercedes hasn't announced pricing, but expect it to be exorbitant. Not that matters for American buyers, since a Mercedes representative told us it won't be offered in the States. For buyers in countries where the G650 will be available, they will have the option of four interior color schemes, three soft-top colors, and four paint hues. Related Video:

Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.