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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.

Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.

2016 Mercedes-Maybach S600 Review [w/video]

"Hindsight is 20/20" is a handy yet disingenuous cliche. The flaw is that hindsight is only instructive up to the moment you would have made a different, perhaps better, decision. At the moment of that deviation the past goes in another direction, one that you can't peer back into because you didn't experience it. So when we say we wish Karl Benz's eponymous firm had produced the Mercedes-Maybach S600 in 2002 instead of the gilded blunder of the separate Maybach brand and its 57 and 62 sedans, we just can't know if the formula would have worked 13 years ago. But we do know the formula adds up superbly right now. A little history: Wilhelm Maybach helped Gottlieb Daimler build a high-speed, four-stroke internal combustion engine in 1885. Eventually Maybach went to work for Daimler's new car company and designed the first Mercedes, the 1901 35-hp model considered the world's first modern car. Maybach left the company after Daimler's death, started a company building zeppelins, then joined his son to start the Maybach car company. Together they developed super luxury cars including the DS8 Zeppelin models that competed with Rolls-Royce. A reviewer in 1933 wrote, "The Maybach Zeppelin models rank among the few cars in the international top class. They are highly luxurious, extremely lavish in their engineering and attainable only for a chosen few." It's a whopping 28 inches shorter than the departed Maybach 62, but 8.2 inches longer than a standard S-Class. As is this Maybach S600. It's a whopping 28 inches shorter than the departed Maybach 62, but since it's 8.2 inches longer than a standard S-Class, there's a very different driving experience. Two-thirds of a foot isn't much, but the Maybach is 639 pounds heavier than an S550, or 231 pounds heavier than a standard S600. From the driver's seat we could feel every additional pound and inch over those other models. It is as if Mercedes threw out the aluminum and steel and chiseled this sedan from basalt. We've driven scanty few cars where we've been genuinely glad for blind-spot detection and 360-degree cameras – this is one of them. The Maybach's wheelbase is four inches longer than that of a Bentley Mulsanne, even though the overall car is almost five inches shorter than the Big B. That long wheelbase translates into tranquil steering response – the S550, S600, and Maybach S600 all have the same 2.3 turns-to-lock, but this sedan feels like it takes more effort. It even looks heavy.