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Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.

Test drive the Mercedes SLS AMG Electric Drive with Chris Harris

It's hard to not like the Mercedes-Benz SLS AMG GT. The all-aluminum coupe is fitted with a wonderful naturally aspirated 6.2-liter V8 delivering 583 horsepower and 479 pound-feet of torque. Not only does the burly combustion engine launch the two-seater to 60 miles per hour in less than four seconds, but it does so with one of the world's greatest exhaust soundtracks as it roars, burbles and cackles down the road.
But what happens when Mercedes-Benz takes away the V8 and its accompanying fire-burning song? Stripped of one of its most appealing assets, does the SLS lose its soul?
Chris Harris recently had the opportunity to take the Mercedes-Benz SLS AMG Electric Drive for a track spin in Europe. Sans gasoline, but with four electric motors providing a combined 740 horsepower (737 pound-feet of torque), all-electric all-wheel drive coupe uses sophisticated torque vectoring and a multi-mode operating system to put oversteer - drifting! - back into the equation. Fun? You bet. See for yourself, below.

Daimler, BMW partnering up on wireless charging

Plug-in vehicle advocates can get all warm and fuzzy about two Germany heavyweight automakers getting together for the sake of wireless charging. That's because Mercedes-Benz parent Daimler and BMW will work together to speed up development of a wireless charging system. While not a ton of details were divulged, we can still rejoice. Daimler says the system will consist of an on-board coil and another coil that can be placed within the garage floor or someplace similarly stationary. The system will charge at 3.6 kilowatts and with 90 percent efficiency. No details were released about the system's price or when it would be available, but Daimler shouldn't wait too long, since other OEMs are already talking about their own wireless charging systems. Daimler obviously has some skin in the game here, since Mercedes-Benz will start sales of its S500 plug-in hybrid in September. That model, which was first shown off last August at the Frankfurt Auto Show, can go as far as 20 miles on electric power alone and will get fuel economy of about 84 miles per gallon equivalent. And it's easy to imagine an i3 or i8 driver getting a kick out of never needing to touch a cord. This spring, reports sprung up that fellow German automaker Volkswagen was preparing a wireless charging option for its electric vehicles as soon as 2017. You can check out Daimler's press release below. Wireless charging of electric drive and plug-in hybrid vehicles: PLUG IN HYBRID - unplugged One of the next steps on the way to perfect electric drive and plug-in hybrid vehicles is wireless charging. Daimler and BMW have now agreed on jointly developing and implementing one common technology. Wireless charging of the battery will make the handling of electric drive and plug-in hybrid vehicles even easier. Mercedes-Benz will commence fleet testing of this "unplugged" technology with the S 500 Plug in HYBRID soon, in order to develop a real S-Class solution in recharging the high voltage battery in terms of comfort and ease of operating in the near future. The system consists of two components: a secondary coil integrated into the under tray of the car and a primary coil integrated into a floor plate that can be placed on a garage floor for instance. Electrical energy is transmitted contact-free without the need for a cable, at a power rate of 3.6 kW and with a degree of efficiency of 90%.