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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Mercedes-AMG planning more hardcore A45 hot hatch

The launch of the A45 AMG marked Mercedes-Benz's first real assault on the premium hot hatch segment. And with 355 horsepower from a 2.0-liter turbo four, it is indeed hot. But the latest word has it that Mercedes-AMG is planning an even hotter version. Speaking with Auto Express at the LA Auto Show last week, AMG boss Tobias Moers indicated that his department was toying with the idea of a more hardcore version of the A45. In what Moers referred to as a "street fighter," the A45's engine would be tuned to produce even more power, the cabin stripped out and the rolling stock, brakes and aero upgraded for more serious performance. Think of it, then, as something of a Black Series approach, only it's not expected to carry that name, which has historically been reserved specifically for two-door models. Given AMG's current list of priorities and limited manpower, though, Moers suggests it will be several years – likely towards the end of the model's life cycle – before it may prepare such a model, following a similar formula to the Mini JCW GP and Renaultsport Megane R26.R. Here's hoping an American version based on the CLA could also be in the cards.

Daimler: 2017 the right time to launch our hydrogen fuel-cell vehicle

Zero-emissions vehicle development has never focused purely on off-the-line acceleration. So when a research executive with Mercedes-Benz parent Daimler says it's Okay that companies like Toyota and Hyundai will have a head start selling hydrogen fuel-cell vehicle, it's somewhat believable. But is Daimler really fine with being two years behind? It appears so. Daimler plans on debuting its first fuel-cell vehicle in 2017, Automotive News says, citing an interview Automobilwoche had with Daimler's corporate research chief Herbert Kohler. The German automaker estimated about a decade ago that it would be able to get fuel-cell production costs down to an "acceptable" level in 2012, but it turns out that estimate was about five years too aggressive. Daimler originally started leasing out a limited number of its F-Cell hydrogen vehicles in the US for $849 a month, though later brought that down to $599 a month. Daimler says it received a boost in its effort to accelerate fuel-cell powertrain development when it reached an agreement early last year with Nissan and Ford to work together on speeding up relevant powertrain technology. While Toyota's first fuel-cell vehicle in Japan is priced at almost $70,000 (before big government incentives kick in), Kohler says Daimler's first fuel-cell vehicle will be priced similar to a hybrid vehicle. Of course, that's a Mercedes-Benz hybrid we're talking about here, but still. Related Gallery Mercedes-Benz F-Cell View 9 Photos News Source: Automotive News - sub. req. Green Mercedes-Benz Hydrogen Cars h2