Keyless Go, Rear Dvds, Cpo, Nav, Rear Cam, Parktronic, Blind Spot, 310-925-7461 on 2040-cars

Auto blog

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.

Recharge Wrap-up: Mercedes B-Class Electric Drive is a rock star, FedEx tests electric trucks

The Mercedes-Benz B-Class Electric Drive is in a new music video for I Lived by OneRepublic. The band's singer, Ryan Tedder, has also been brought on as a brand ambassador for the German automaker. OneRepublic will also be performing the song at the Mercedes-Benz Media Night on the eve of the Paris Motor Show. No word if Mercedes plans to offer hordes of screaming teenage fans as an option package with the B-Class Electric Drive. See the video (the car shows up around the four-minute mark) or read more in the press release below. FedEx is testing converted electric delivery trucks with diesel range extenders. Looking to shrink its carbon footprint, the company has converted a handful of trucks as part of a pilot program. In addition to battery packs, each truck is equipped with diesel turbine generators (supplied by Ian Wright's company, Wrightspeed) to provide electricity when the battery is depleted. Because the diesel motors aren't powering the vehicle directly, they can continuously run at their most efficient speed, making the trucks about twice as efficient as those powered by traditional means. Read more at Wired. Ford's new aluminum-bodied F-150 will be 5 to 20 percent more efficient, the company says. The fuel economy gains depend on the particular version of the truck, but the biggest improvement will likely come from the 3.5-liter V6 and the 2.7-liter EcoBoost V-6. Automotive News predicts the F-150 SFE to be rated at 21 mpg city/28 highway/23 combined, which are identical figures to the Ram 1500 EcoDiesel. The result could be a noteworthy fuel economy battle between Ford and Ram trucks. Learn more at Automotive News. The US Department of Energy is providing $25 million in funding toward reducing the price of algal biofuels. The goal is to get the price of these renewable fuels below $5 per gasoline gallon equivalent (gge) by 2019, and less than $3 per gge by 2030. The money will fund projects to develop better algal cultures that produce biofuel and other useful bioproducts, and projects to boost biomass productivity. The DOE says it wants to help develop a "bioeconomy" that provides jobs, helps the environment and ensures energy security. Read more at Energy.gov. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

How Atlanta landed Mercedes-Benz

The first phone call came last spring. An international real estate company had a high-profile client that wanted to relocate its North American headquarters. The client, whose identity was confidential, narrowed the list of prospective sites to Texas, North Carolina and Georgia. Would Georgia officials be interested in a discussion? Behind the scenes, they worked for months to lure the company, touting lower housing prices and a relaxed pace of life. They arranged interviews with CEOs of other companies in Atlanta who could speak about the area's business climate and they augmented negotiations with key executives from a utility company and Atlanta-Hartsfield Airport. Ultimately, they were also offered a reported $40 to $50 million in tax incentives. Secrecy was vital. The intermediary and officials with the Georgia Department of Economic Development gave the project a code name that changed three times throughout the summer and fall, so that only a few people had access to the most basic information. It was called Operation Eagle. It was only in September that the Georgia officials learned the identity of the client, Mercedes-Benz, and only last week that Operation Eagle bore fruit when the company publicly announced it would relocate its North American headquarters from Montvale, NJ, to the north side of Atlanta. "They put themselves in a spot on the north side where millennials can live in the city, and people can live in the northern suburbs and raise a family," Tom Croteau, deputy commissioner of global commerce for the GDED, tells Autoblog. "And when you combine that with the business aspect of a lower-cost environment, that's what we were able to provide them, along with a long-term commitment to support them however we can." In the move, the company benefits from a location that's closer to a growing base of suppliers that work with German car companies in the Southeast, as well as closer proximity to ports in Brunswick, GA, that are some of the busiest in the country. Mercedes-Benz will bring 800 to 1,000 jobs to the area. In addition to the employment, Georgia benefits from another notch in its automotive belt. Atlanta is already home to Porsche's North American headquarters. Kia Motors has a major manufacturing facility in West Point, GA, and General Motors opened an information technology center in Atlanta two years ago that employs roughly 1,000 workers.