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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.

If you're a Daimler exec, you'll soon have to drive an EV

Luckily, for Daimler's "senior level" managers, the company has a lot of plug-in vehicle options. Lucky because "in the future," these managers will have to drive the company's electrified vehicles. This most likely means a plug-in hybrid – something like the C 350 e or the GLE 500 e 4MATIC – but it could also be the all-electric and peppy Smart ED or the B-Class EV. Board member Ola Kallenius said in a statement (available below) that this new policy, "We are continuing on the path of zero-emission driving with consistency. This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." It's a big change from five years ago, when Daimler's director of fuel cell and battery drive development, Christian Mohrdieck, was willing to talk up the drawbacks EVs face. Even a year ago, Daimler CEO Dieter Zetsche explained the financial hardships involved in making EVs. But, EV technology continues to change, and so, perhaps, do the attitudes inside Daimler. As EV advocate Chelsea Sexton said on Facebook regarding this new policy, "This should be standard procedure in any automaker seeking a leadership role in the plug-in vehicle movement. Commitment starts at the top." Related Video: Electric Mobility: Daimler Management leads by example Daimler is once again setting a new milestone on the road to zero-emission driving: In the future managers will drive electrified company cars. Furthermore, Daimler is this year set to invest a further 30 million euros into extending the company's own charging infrastructure across many of its sites. This will also benefit employees, who have access to a growing range of vehicles with alternative drive systems. Stuttgart. It represents a further commitment from Daimler to an electric future for mobility: "We are continuing on the path of zero-emission driving with consistency", states Ola Kallenius, member of the Board of Management of Daimler AG responsible for Mercedes-Benz Cars Sales and Marketing, about the importance of the current initiative. "This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." The agreement applies to the company's senior levels of management and focuses on plug-in hybrids.

Lots of new cars were unveiled in Munich this week. Here's what you might've missed

The 2021 Munich Auto Show is happening this week and due to ongoing corporate travel restrictions, we remained firmly planted on this continent. So, although we can't tell you exactly what it's like inside the futuristic new Mercedes EQE electric sedan or fully appreciate the funky Volkswagen ID.Life concept, there's no shortage of details and analysis to provide.  Obviously, as Germany's premier auto show in 2021, the cars unveiled were primarily from the German brands. We also focused mostly on the cars that might actually make their way to the United States, or at least inspire those that will.   2023 Mercedes-Benz EQE is an electric alternative to the E-Class While the EQS paved the way for Mercedes' electrified future, much like the S-Class before it, the EQE stands to be the car that will move in far greater numbers -- much like the E-Class before it. Mercedes-Benz EQE 350 View 12 Photos   Mercedes-Maybach EQS Concept shows SUV future of the flagship brand Opulence will still have a place in an electrified future, as Maybach gets into the EQ game with a grand electric SUV. Mercedes-Maybach EQS Concept View 4 Photos   Volkswagen ID.Life concept previews the city car's high-riding EV future Well, isn't this adorable? Though perhaps a tad derivative of the Honda E, Volkswagen's blocky little crossover EV nevertheless represents a handsome new direction for VW design. We like this better than the rounded looks of the current ID.3 and ID.4.  2021 Volkswagen ID.Life concept View 20 Photos   BMW i Vision Circular is a 100% recycled and recyclable hatch Behold, the next BMW 3 Series! Just kidding. Besides this, BMW displayed cars in person for the first time that it had previously only unveiled on the interwebs, including the new 2 Series and revised iX3. It also unveiled some bikes. BMW i Vision Circular Concept View 63 Photos   Audi's GrandSphere concept was designed as a road-going private jet Does Audi know what a sphere is? Cause this isn't anything like one. Still, it's quite a handsome thing, and as one of three Sphere-branded concepts, previews the next direction of Audi design (which is pleasantly reminiscent of two-decade-old Mazda design). No complaints here. 2021 Audi GrandSphere concept View 26 Photos   Porsche Mission R is a 1,000-horsepower electric monster Just like the Mission E previewed the Taycan, this apparently previews another future car.