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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.

2016 Mercedes S-Class Cabriolet airs out the good life

Mercedes-Benz has finally dropped the top on its range-topping model, the long-lived S-Class. The new cabriolet takes the handsome, sophisticated good looks of the hardtop model and adds a three-layer canvas roof that can be lowered or raised in just 20 seconds. On top of the unlimited headroom, the new S-Class Cabriolet adds Mercedes' popular AirScarf neck-warming system, as well as a new nine-speed automatic transmission on the S550 model. As we previously reported, the S63 AMG will continue to use the seven-speed AMG Speedshift transmission. Both cars match their hardtop and four-door counterparts in terms of output. On top of AirScarf, Mercedes also fitted the Thermotronic climate control system. It uses 12 sensors and 18 actuators to measure a wide array of metrics, all in the pursuit of keeping the cabin temperature at the driver's ideal temperature. Scroll up for our full gallery of photos of the new S-Class Cabriolet from the floor of the 2015 Frankfurt Motor Show. We also have the official press release from Mercedes down below. Check them out. The new Mercedes-Benz S-Class Cabriolet Open-top luxury Stuttgart. The new S-Class Cabriolet is the fourth variant of the current S-Class family in the U.S. market and the first open-top flagship four-seater from Mercedes-Benz since 1971. It offers a distinctive, sensual and exclusive design, the cutting-edge technology of the S-Class and a comprehensive warmth and wind protection concept which includes intelligent climate control for convertibles. The elegantly sporty model will have its world premiere at the Frankfurt International Motor Show in September. Also on display in Frankfurt will be a superlative dream car from Mercedes-AMG in the guise of the S63 4MATIC Cabriolet. Its 5.5-liter V8 biturbo engine offers an output of 577 hp and peak torque of 664 lb-ft, AMG Performance 4MATIC all-wheel drive with rear-biased torque split as standard and acceleration from 0 to 60 mph in 3.9 seconds. "After 44 years we are once again able to offer Mercedes aficionados an open-top car in the S-Class. The new S-Class Cabriolet symbolizes our passion for individual and timelessly exclusive mobility, which we share with our customers," remarks Ola Kallenius, Board Member of Daimler AG, Mercedes-Benz Cars Sales. The new S-Class Cabriolet is exceptionally rigid.

New details emerge on forthcoming Mercedes-Benz SLC

Last we heard, the Mercedes-Benz SLC had been put on indefinite hold, but now Car Magazine is reporting that the Porsche 911-fighting "Baby SLS" coupe could be on sale by 2015. Riding on a modified SLS AMG chassis, the smaller and lighter SLC could be priced in the sub-$100,000 price bracket.
We'd already heard that the new car would feature conventional doors (instead of SLS-like gullwing doors), but this report focuses on some of the possible powertrains Mercedes-Benz is likely to use. At launch, the SLC could offer a pair of V8-powered models - a 485-horsepower SLC and a 585-hp SLC S - both being powered by a 4.0-liter twin-turbo V8. About a year after launch, a new V6 model could emerge giving the SLC an estimated 333 horsepower and its lowest price point.
It also sounds like the car's name hasn't been completely finalized as some people within Mercedes are favoring a return of the SLR name.