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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.

Daimler chairman agrees with German Greens on reducing emissions

Daimler Chairman Dieter Zetsche spoke at a Green Party congress in Germany earlier this week and said he agreed with the party's urge to dramatically cut transportation-based greenhouse-gas emissions by expanding plug-in vehicle sales, Reuters says. Zetsche stopped short of backing the Greens' suggestion to ban gas- and diesel-powered vehicles by 2030, though. The man must keep his job, after all. Zetsche did say that reducing greenhouse-gas emissions from the transportation sector was "necessary," and his company has made plans to do just that. Daimler representatives said at the Paris Motor Show earlier this year that Smart and Mercedes-Benz both planned to debut more than 10 electric vehicles within the next decade, and that plug-ins may account for as much as 25 percent of Mercedes-Benz's sales by then. Moreover, Dr. Thomas Weber, Head of Group Research and Mercedes-Benz Cars Development, said in June that Mercedes could be selling as many as 100,000 EVs a year by the end of the decade. Last month, Mercedes-Benz announced that its EQ electric-SUV concept would go on sale by 2020, and that the Bremen factory that's producing the model will broaden its plug-in vehicle production further. Zetsche's cautious support notwithstanding, the German government appears to be doing its own part to reduce emissions from the country's light-duty vehicles. Earlier this year, Germany enacted a plan that provides as much as 4,000 euros ($4,270) in perks for people who buy new electric vehicles, with German automakers agreeing to foot about half of the estimated $1.4 billion bill. German lawmakers had also floated the idea of a 10-year moratorium on electric-vehicle taxes for cars purchased before 2020. Related Video: News Source: Reuters via Automotive News Europe-sub.req.Image Credit: Ralph Orlowski / Reuters Government/Legal Green Mercedes-Benz smart Electric

Mercedes to roll out S65 AMG Coupe in July

We're still a couple of weeks away from the public debut of the new Mercedes S63 AMG Coupe at the fast-approaching New York Auto Show, but already we're receiving word of an even more powerful version in the works. That, of course, would be the S65 AMG Coupe - the twelve-cylinder version of the latest S-Class Coupe, two-door counterpart to the S65 AMG sedan and replacement for the outgoing CL65 AMG.
Like the four-door version rolled out back in November, the S65 AMG Coupe would be distinguished from less powerful vehicles (which, lets face it, is just about everything) principally by its engine: a massive, 6.0-liter twin-turbo V12 that produces 621 horsepower, 738 pound-feet of torque and cares as much about global warming as an oil-shipping mega-tanker.
Because Merc's 4Matic all-wheel drive system can't handle that much torque, the ne plus ultra coupe would (like the S65 sedan but unlike the S63 coupe) be offered only in rear-drive form. That means it will have that much more trouble getting the power down to the road, but since the Magic Body Control suspension is similarly incompatible with 4Matic, the flagship coupe will get that trick suspension.