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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.

Mercedes has already booked 30k orders for new S-Class

When Toyota snags 30,000 Corolla orders over a three-month span, it's entirely possible we're in the midst of a global economic collapse and that the end is nigh. That's because the scale for Toyota is so very large. Mercedes-Benz, on the other hand, operates on a much smaller scale, particularly when we talk about its higher-end models, like the S-Class.
In 2012, Mercedes sold 65,000 of its flagship sedans in Germany and the EU. That's 178 units per day, for 365 days. Based on that, you can imagine the excitement at Stuttgart when it accepted 30,000 orders for the new S-Class in just three months. That's an average of 333 per day on a continent with a notoriously shaky economy. Now, admittedly, this enthusiasm could wane as the refitted S-Class becomes more common and Mercedes achieves market saturation in Europe's many chauffeur and livery services, but Mercedes isn't choosing to look at it that way.
"The new S-Class has already jumped back into the lead in terms of new vehicle registrations in Germany and its neighboring European countries," Mercedes-Benz head of sales and marketing, Ola Kaellenius, said in a statement last week.

Chicago Car2Go app reportedly hacked, some 100 cars missing

Car2Go launched in Chicago in the summer of 2018, with 400 Daimler cars rolled out on the Windy City streets soon after. But that big fleet just took a big hit: The car-sharing app has now reportedly been hacked, and some 100 cars have been stolen as a result. CBS Chicago is reporting that some of the missing cars have been used to commit crimes. It is yet unclear what the hacking has exactly enabled the perps to do, but the compromised app appears to have opened the doors and given the thieves free rein with easily stolen cars. Within Chicago, there is a 29 square mile area where the vehicles were supposed to be dropped off, but they haven't been limited from exiting that zone at any point. The Chicago Car2Go fleet started out with Smart ForTwo cars and bigger Mercedes-Benz CLA/GLA models; we can imagine the ForTwos are a touch slight for any ram raiding, but an escape car that can vanish in a crowd of other shared Smart cars seems handy for misuse. To address the matter, Car2Go froze its Chicago operations today, saying it is "neutralizing a fraud issue and working together with law enforcement." No personal or confidential user info is said to have been compromised. CBS Chicago's Brad Edwards tweeted today that 12 people have been taken into custody so far, with the story developing as we speak.