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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.

Top horsepower-per-dollar cars in 2017

Bang for the buck. That quasi-scientific statistic is bandied about by motor heads everywhere from classrooms to barrooms, though the truth of the matter is that it's exceedingly complex to measure. A fair performance-per-dollar index would include something like cross-referencing MSRP (Manufacturers Suggested Retail Price) with point-to-point times on a track or driving route, which is obviously hard to do comprehensively. But, for the sheer joy of talking about cars and playing with a big spreadsheet, there's always the horsepower-per-dollar index, which is more straightforward, albeit hilariously flawed. There are vagaries even with this simple formula, of course: MSRP for vehicles can change at a moment's notice, to say nothing of the bottom-line shifting that happens with local deals or showroom negotiation. For this list we're running with the straight MSRP wherever possible, and as recently reported as we can get it. All the vehicles on this list are 2017 models, and all trims are reported where the lowest price and differing power levels intersect. Some choices were made for personal preference and some for sanity, avoiding things like all 48 trim levels of the Ford Transit, all with the same horsepower). If this list were a simple top ten, or even a top fifty, you'd be bored to tears with all the red, white and blue that is represented. Following perfectly with conventional wisdom, American cars really do lead the world where hp/$ is concerned. So, for the sake of variety (and the sheer joy of seeing a minivan 'win' one round of this thing) I've sorted out some top five and bottom five lists for broad power categories. Let's dive in. Less Than 100 Horsepower Okay, okay, this is hardly a category we'll grant you. But we've often tried to click off all the sub-100-hp cars on sale in the US, and making this list gave us an excuse. It also illustrates that none of these smallish vehicles bring cheap horsepower to the table - for that you'll need a motorcycle. The segment-leading Chevy Spark (above) asks just over $139 for each hp, and that Smart Fortwo Electric Drive has hp on sale for about the same price as its very distant family cousin, the Mercedes-Benz SL65 AMG (insert your favorite Smart joke here... we know you want to).

Recharge Wrap-up: Shift to offer Teslas for Hire, Model S P85D beats Ferrari in drag race

A company called Shift plans to provide bikes and EVs for hire. Based in Las Vegas, NV, Shift will provide chauffeured ride services like Uber, but will also include a car- and bike-sharing service that delivers the desired wheels to the customer. Shift's fleet will include EVs like the Smart Fortwo Electric Drive and the Tesla Model S. Shift also promises that you will, "Be on your way within five minutes," which is a pretty tall order. Shift is scheduled to be available to members beginning this fall. Read more at The Car Connection. Nissan UK has confirmed the price of replacement batteries for the Leaf. UK drivers will be able to buy new batteries for 4,920 pounds (or about $7,738). That's considerably more than the price of $5,499 for US customers. Customers get 1,000 pounds back when they exchange their old battery. The original battery is covered under a five-year, 60,000-mile warranty, and most owners will never need to replace it. According to Nissan, only three replacement batteries have been sold out of 30,000 Leafs sold in Europe. Read more at Autocar. The Tesla Model S P85D walloped a Ferrari in an impromptu drag race video. The Ferrari driver pulls up alongside the Tesla and asks, "What you got in there?" before challenging him to a race. The Ferrari gets a head start, but the Tesla pulls out ahead quickly. The video also gets the reactions of some passengers to the car's mighty acceleration. See the video below and read the account of a drag race against a Lamborghini Aventador at Car Throttle. Australian website Drive has chosen their Cars of the Year in various categories. The Tesla Model S was a carryover winner for Luxury Car Over $80,000, but the Mercedes-Benz C200 narrowly overtook it to be crowned the overall winner. Regarding the Model S, one judge says, "This makes every other EV look at least a generation behind." The main thing that held the Tesla back from winning outright was the near-term lack of charging infrastructure. The judges did note Tesla's plans to build a network of Superchargers in Australia, but also pointed out that those plans exclude much of the country so far. See the video below and read more at Drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.