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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.

Mercedes GLE Coupe to feature in Jurassic World

It was back in 1997 that Mercedes first got into the crossover game with the launch of the M-Class, and most of us got our first look at the luxury high-rider when it debuted on the big screen in the Jurassic Park sequel The Lost World. It's been 18 years since that event, but now its successor is set to appear in the revival of the once-popular movie franchise. Come June 12, moviegoers will be able to catch the new Jurassic World film at their local theaters, but the dinosaurs will have to share the spotlight with the new GLE Coupe. The slant-roofed crossover that'll share its underpinnings with the M-Class' successor and challenge the BMW X6, will appear in the film in GLE 450 AMG Sport guise, and Universal Studios apparently did a good enough job keeping the Mercedes under wraps during filming until its release just a month ago. Mercedes Continues Its Decades Long Relationship with Universal: Mercedes-Benz GLE Coupe launches in Universal Pictures' Jurassic World Stuttgart, Jan 08, 2015 Stuttgart. On-screen, multiple Mercedes-Benz vehicles are once again in on the Jurassic action. Twenty-two years since the events of the original film, Steven Spielberg returns to executive produce the long-awaited next installment of his groundbreaking Jurassic Park series, Jurassic World. During their adventures in the jungles of Jurassic World, the characters played by Chris Pratt and Bryce Dallas Howard put their trust in the off-road capabilities of various Mercedes-Benz vehicles – especially in the all-new GLE Coupe, which appears in its series-look for the first time. Colin Trevorrow directs the epic action-adventure from a screenplay he wrote with Derek Connolly. Frank Marshall and Patrick Crowley join the team as producers. Jurassic World will be released in 3D by Universal Pictures on June 12, 2015. The partnership continues the relationship between Universal and Mercedes-Benz, first forged in 1997's The Lost World: Jurassic Park, when Mercedes introduced the M-Class vehicle. "We are delighted to have been able to support this epic action-adventure with our vehicles," said Dr. Jens Thiemer, Head of Marketing Communications for Mercedes-Benz Cars. "Our wide range of SUVs in particular fit perfectly with Jurassic World's various requirements, with the focus on our new trendsetter, the GLE Coupe." Above all, it is the new GLE Coupe that shows off its best side.

2016 Formula 1 Chinese Grand Prix recap: another wild show on and off track

Normally we use this space to provide a lengthy recap of the weekend's Formula 1 race, but we're going to try something different since most folks reading this know what happened at the Shanghai International Circuit on Sunday. Instead, we'll alight on what we saw as the big issues in and around the race. Let us know what you think in Comments. Proper qualifying is back. Thank goodness. It only took a month of embarrassment to fix it. And so is passing! For the third race in a row, big performance improvements at the ten teams behind Mercedes-AMG Petronas and a wider tire selection at this race graced us with opening stints filled with dicing cars. Seeing the McLarens on screen doesn't make us cringe. Manor doesn't only make the global feed when it's being lapped. We've been complaining about parade races for so long that we forgot excitement was possible without rain or wholesale regulation changes. Yes, Mercedes is still the king of the jungle, but there are some other proper midfield beasts on the hunt, too. Malfunctions up and down the grid did help the show in Shanghai, like Lewis Hamilton suffering perpetual troubles, Nico Hulkenberg's runaway front wheel which red-flagged Q2, and Sebastian Vettel's and Kimi Raikkonen's flubbed hot laps in Q3 that let Daniel Ricciardo slip by into second on the grid. Come race day things went all Grand Theft Auto at Turn 1 on the opening lap, sending some of the best cars to the pits. Then came Ricciardo's puncture while leading, then came the Safety Car – all by Lap 5. Nico Rosberg got 38 seconds of airtime on the way to victory – at the start and the finish, and that happened to be his margin of victory, too – otherwise he was a ghost. Everyone else was struggling and juggling. Rosberg's win at the Bahrain Grand Prix put the German at five consecutive victories going back to last year's Mexican Grand Prix. The history books show that any driver who's won five straight contests has gone on to win the championship. With his triumph in China, the German has won the season's first three races, the history books again show that the other nine drivers who've pulled that off have gone on to win the championship. Rosberg, 36 points ahead of his teammate in the standings, is having none of it. He said of the other victors, "But they didn't have Lewis Hamilton as their team-mate." Perhaps Mercedes was right not to make an engine deal with Red Bull last season.