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E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video:

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.

Mercedes-Maybach rolls out new S, GLS and EQS SUV Night Series

Mercedes-Maybach is embracing a new look for what it hopes will be a new generation of buyers — one keen to embrace its new electrified luxury models. The new Night Series will be offered on all three models in the current Maybach lineup, with the S-Class and EQS SUV variants arriving later this year and the GLS following in early 2024. While the execution off each Night Series is dependent on the model in question, they share a few common elements. Their headlights, for instance, are all embellished with dark chrome Maybach logos on rose gold trim. You'll find that dark chrome just about anywhere you'd normally spot bling, from the grille and exterior trim to the coating on the rear exhaust finishers. And then there are those wheels. I don't know what to say, quite honestly. Just look at them. And while you're at it, peep at the running boards on the EQS SUV.  While the cars shown here are quite uniform, differentiation will come in the form of finish choices and further individual customization. All three are offered with the Obsidian Black/Mojave Silver two-tone combination shown here. The EQS SUV will also be available in Obsidian Black and Manufaktur Diamond White finishes, the S-Class can be done up in various grey, black and white hues, and the GLS can be had in white or Obsidian Black.  Inside you'll find herringbone-patterned, open-pore wood with aluminum accents along with another smattering of dark chrome. The EQS SUV and GLS can optioned with with Nappa leather in two-tone Crystal White/Black Pearl or just plain Black Pearl. In the S-Class, you can do Nappa leather in either Deep White/Black Pearl or straight Black Pearl.  Look for more on the Mercedes-Maybach S-Class and EQS SUV Night Series soon, with more to come on the GLS variant as its arrival draws closer.  Related video: 2022 Mercedes-Maybach S 580 walkaround