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One year since accident, most of Schumacher's sponsors still on board

It's been almost exactly a year now since Michael Schumacher suffered massive head trauma in a catastrophic skiing accident in Switzerland, and while details on his recovery have remained few and far between, we're sure his progress has been anything but easy. Meanwhile his sponsors have faced a difficult decision of their own: to continue supporting him financially despite getting nothing tangible in return, or cancel their contracts and suffer the blow to their public image as a result. According to Schumacher's longtime manager Sabine Kehm in speaking to news outlets like Italy's La Gazzetta dello Sport, most of the imperiled former F1 driver's personal sponsors have remained by his side. The encouraging news updates on what we reported back in August, that Mercedes-Benz and German investment firm Deutsche Vermogensberatung AG were sticking with the champ through the hard times. Other sponsors, including helmet manufacturer Schuberth and watchmaker Audemars Piguet, are also believed to still be on board. Not all of Schumi's sponsors have stuck around, though. German bottled water brand Rosbacher reportedly broke off its contract with Schumacher back in July. And more recent reports confirm that Gaydoul Group fashion labels Navyboot and Jet Set canceled their sponsorship deal earlier this month. These and other contracts made Schumacher one of the world's highest paid sports figures and the first billionaire athlete in the world. Even in retirement, he was still making more than most active F1 drivers. While we don't know just how much he's pulling in during his recovery, here's hoping that his continued sponsors can find a way to make their support worthwhile – and that the champ makes a full recovery in the near future.

Mercedes to roll out C63 AMG late in 2014 with 4.0L V8

The new 2014 Mercedes-Benz C-Class is upon us, launching initially in North America with turbocharged four-cylinder C300 4Matic and six-cylinder C400 4Matic flavors. But that's only the tip of the proverbial iceberg when it comes to the vast array of powertrain configurations that will be offered in the new C-Class in markets around the world. Orders will soon be rolling in for gasoline, hybrid and diesel engines with four, six or eight cylinders, driving the rear wheels or all four, with the seven-speed automatic transmission soon to be replaced by a new nine-speed unit. But what enthusiasts are really looking forward to is the next C63 AMG.
As BMW has done with the M3 (and new M4), Mercedes has gradually ratcheted up the cylinder count in its AMG C-Class, graduating from the 3.6-liter V6 in the original C36 AMG to the 4.3-liter V8 in the C43 AMG, then the 5.5-liter V8 in the C55 AMG before going the distance with the sublime 6.2-liter V8 in the C63 AMG. Like its rivals, Mercedes is expected to use turbochargers as a replacement for displacement in the next model, but unlike its Bavarian rival, it won't be losing any cylinders in the process.
Skipping the 5.5-liter twin-turbo V8 that has gone on to power other AMG models, the next C63 AMG is still expected to introduce a new 4.0-liter twin-turbo V8 producing between 450 and 500 horsepower. It'll also reportedly keep the same seven-speed automatic transmission (instead of switching to the new nine-speed), but the jury's still out on whether it'll come with rear- or all-wheel drive (or offer buyers the choice). The downsized V8 - codenamed M177 - is then expected to find its way into other models, but the C-Class will be the first to get it when it arrives before the end of the new year ahead.

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.