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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 eMERGE2 test proves ignorance breeds dislike of EVs

Out with the old EVs, in with the new. Daimler announced today that it has finished up the eMERGE electric vehicle project that used Smart Fortwo Electric Drive cars and will now start up eMERGE2, which will use Mercedes-Benz B-Class Electric Drive and PHEV vehicles. As before, the tests will take place in Germany. The first, just-finished eMERGE program ran from May 2013 to June 2015 and put over a million kilometers (621,000 miles) onto 146 Smart Fortwo EDs. Daimler said that over the two years, the vehicle with the most efficient annual energy consumption used just 10.4 kWh for all of its 100 kilometers. The best full-charge range over the year was 161 kilometers (100 miles). Perhaps most interesting, though, was one of the projects findings: "the less an interviewee knew about electric mobility, the more negative their opinion" about the technology. In other words, here's some more proof that getting "butts in seats," as it were, is one reasonable way to promote electric driving. eMERGE: key contribution to developing the mobility of the future Stuttgart/Berlin, Jul 30, 2015 Broad-based real-world trial of eMERGE project completed Especially for daily distances of 50 km or over the E-car is financially attractive eMERGE2 fleet project now launching with 200 Mercedes-Benz B-Class Electric Drive and plug-in hybrid models Stuttgart/Berlin – After more than one million kilometres in two years – from May 2013 to June 2015 – the real-world trial of electric cars known as eMERGE has been completed. Those taking part in the project were private and business customers with 146 smart fortwo electric drive cars from Berlin, Potsdam and North Rhine-Westphalia. Some of them set records: the lowest average energy consumption over one year was 10.4 kWh/100 km, while the longest range was 161 kilometres. The smart fortwo electric drive is certified with a consumption of 16.3 kWh/100 km and a range of 145 kilometres. The broad-based field trial within the framework of the eMERGE project has not only provided information on user behaviour and e-car technology; it also studied intelligent charging systems for improving the utilisation of the power supply as well as various pricing systems with regard to customer acceptance. Based on transport models, the project partners examined the need for a publicly available charging infrastructure. Within the project Daimler was responsible for collecting the driving and charging data required for evaluation of the field trial.

Average new-vehicle transaction price hits a whopping new peak in December

Elevated prices for products and higher borrowing rates led to record high transaction prices for new vehicles in December, with the average cost in the U.S. rising to a record $49,507, according to data from Kelley Blue Book released today. The report notes that ATPs — average transaction prices — have climbed above suggested retail prices — MSRPs — for more than a year. Sales volumes were up in December on a year-over-year basis by more than 5%, a situation Kelley attributed to improved supply. Overall sales for 2022, however, were off 8% year over year. “The transaction data from December clearly indicates overall prices showed no signs of coming down as we headed into year-end,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. “Luxury prices fell slightly in December, but non-luxury transaction prices were up. Truck sales were particularly strong last month, and with many trucks selling for more than $60,000, a new record was all but inevitable.” Industry analysts claim the most obvious headwinds in the new car market are generated by higher interest rates, forced by the Federal Reserve's rate hikes intended to tame inflation, and by generally limited inventory. A recent report from J.D. Power showed that the average monthly payment for a new vehicle loan in December was $718, up $47 from a year ago. But 16% of consumers in December took out loans with monthly payments of over $1,000. Consumers think vehicles, and electric vehicles especially, are way too expensive. Fortunately, manufacturersÂ’ incentives, all but extinct in the past two years, are returning, especially in the electric-vehicle and luxury market, the Kelley data suggest. Plus, "With the new tax credits on the way, electric vehicle ATPs will drop lower for qualifying vehicles,” Rydzewski said. Non-luxury brands, such as Honda and Kia, showed particularly strong performance in December, with the average price paid at $45,578 — a record high and an increase of $994 month over month. Meanwhile, the average luxury buyer paid $66,660 for a new vehicle last month. Mercedes-Benz and Land Rover showed the most price strength in the luxury market, transacting between 2.6% to 6.5% over sticker price. But luxury brands Audi, BMW, Infiniti, Lexus, Lincoln, and Volvo showed the least price strength with some discounting in effect, selling 1% or more below MSRP in December, according to the survey.