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Automakers suspend some business in Russia following invasion

These Russian GAZ Tigr infantry mobility vehicles were destroyed by Ukrainian fighters in Kharkiv on Monday. (Getty Images)   Global auto and truck makers, including Sweden's Volvo Cars and Germany's Daimler Truck, on Monday suspended some business in Russia following that country's invasion of Ukraine. Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War II. Many firms have idled operations in Russia following Western sanctions against Russia. Energy giant BP Plc, Russia's biggest foreign investor, abruptly announced over the weekend it was abandoning its 20% stake in state-controlled Rosneft at a cost of up to $25 billion. On Monday, Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international automaker to do so as sanctions over the invasion continue to bite. In a statement, the company said it had made the decision because of "potential risks associated with trading material with Russia, including the sanctions imposed by the EU and US." "Volvo Cars will not deliver any cars to the Russian market until further notice," it said. A Volvo spokesman said the carmaker exports vehicles to Russia from plants in Sweden, China and the United States. This came as Russia warned Sweden and Finland not to join NATO or risk facing “serious military-political consequences." Volvo sold around 9,000 cars in Russia in 2021, based on industry data. Earlier on Monday, RIA news agency reported Volkswagen had temporarily suspended deliveries of cars already in Russia to local dealerships, citing a company statement. VW had no immediate comment when contacted by Reuters. VW previously said it would halt production for a few days this week at two German factories after a delay in getting parts made in Ukraine. Daimler Truck said on Monday it would freeze its business activities in Russia with immediate effect, including its cooperation with Russian truck maker Kamaz. Mercedes-Benz Group is also looking into legal options to divest its 15% stake in Kamaz as quickly as possible, the Handelsblatt newspaper reported. A Mercedes spokesperson told Reuters business activities would have to be re-evaluated in light of the current events. Mercedes-Benz Group, formerly Daimler AG, was the parent company of Daimler Truck before the truck maker was spun off.

Smart brand will be built in China as a Daimler-Geely joint

FRANKFURT/BEIJING — Daimler will build its next generation of Smart electric cars in China through a joint venture with Geely, as a way to increase economies of scale in a market segment that is struggling to turn a profit. China's Geely built a stake of almost 10 percent in Daimler last year, saying it wanted to forge an alliance to develop electric and self-driving cars to better compete against new challengers such as Uber and Google. Daimler said on Thursday it would build the next generation of Smart-branded city cars at a purpose-built factory in China, and planned to share its expertise in manufacturing, engineering and design with Geely. The high cost of electric car batteries has made it hard for automakers to build affordable zero-emissions vehicles, leading several of them to strike alliances with Chinese partners. Daimler's German rival BMW recently unveiled plans to build electric Minis in China, where production costs are low and demand for small electric cars is rising. Daimler and Geely did not disclose financial terms of their deal. The details of the joint venture will be finalized by the end of 2019, they said in a joint press release. Daimler currently develops and builds Smart cars with Renault at factories in France and Slovenia. The Daimler factory in Hambach, France, will be retooled to build Mercedes-Benz cars. Geely has been expanding rapidly through mergers and acquisitions since 2010, when it acquired Swedish carmaker Volvo from Ford. Last year, Daimler and Geely set up a ride-hailing joint venture in China. Daimler's Chief Executive Dieter Zetsche said last month the German carmaker was in talks to deepen its alliance with Geely after the Chinese's group's chairman Li Shufu bought a 9.69 percent stake in Daimler in 2018.

New Mercedes-Maybach concept set to debut at 2018 Beijing Motor Show

Mercedes-Maybach builds some of the most kitted out and opulent production cars in the world. Think of the Maybach S 560 and S 650 as a Mercedes S-Class taken to the next level of luxury. Today, Mercedes-Maybach revealed a new teaser for what looks like a concept for a new EV. The car is set to debut in just a few weeks at the 2018 Beijing Motor Show. This might be the Maybach SUV we reported on a few weeks back. It's difficult to make out too many details, but it definitely looks different than the Vision Mercedes-Maybach 6 that we've seen floating around for the past couple of years. A close-up shot of the steering wheel shows the soft blue glow that Mercedes has put on the EQ-branded concept cars. Other images show clean white leather, rose gold trim and a pair of seats flanking a flower-encrusted panel. All the shots appear to be of the concept's interior, so we can't say for sure that this is the rumored Maybach SUV. Either way, it's sure to be just as luxurious and formidable as anything the automaker currently has on the road. We're hoping they come up with another G-Class Landaulet. Related Video: News Source: Facebook: Mercedes-Benz Design/Style Green Beijing Motor Show Maybach Mercedes-Benz SUV Concept Cars Electric Luxury Videos mercedes-maybach