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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.

Artist imagines eerie world where cars have no wheels

The wheel ranks right up there with the telescope and four-slice toaster in the pantheon of inventions that have moved humankind forward. But what if a circle in three dimensions had never occurred to anyone, and we all had just moved on without it? Perhaps we'd be driving around in Lucas Motors Landspeeders with anti-gravity engines. Or maybe we'd have the same cars we do today, just without wheels.
That's the thought experiment that seems to have led French photographer Renaud Marion to create his six-image series called Air Drive. The shots depict cars throughout many eras of motoring that look normal except for one thing: they have no wheels. The models used include a Jaguar XK120, Cadillac DeVille (shown above), Chevrolet El Camino and Camaro, and Mercedes-Benz SL and 300 roadsters.
Perhaps one day when our future becomes our past, you'll be able to walk the street and see with your own eyes the rust and patina of age on our nation's fleet of floating cars. Until then, Monsieur Marion's photographs will have to do.

First Mercedes B-Class Electric Drive rolls off line, coming to US soon

Mercedes-Benz is about to give Americans another choice of battery-powered vehicle. Offering more all-electric range than the Nissan Leaf or BMW i3, and with a smaller price tag than the Tesla Model S, the B-Class Electric Drive is officially set to arrive in the US this summer. Indeed, the first examples have begun rolling off the production line in Rastatt, Germany. Featuring drivetrain parts from Tesla Motors, the luxury compact hits all the performance parameters mentioned during its debut at last year's New York Auto Show. For a refresher, that's a single-charge range of 200 kilometers (124 miles) along with a 0-to-100 kilometer-per-hour (62 mile-per-hour) sprint in a respectable 7.9 seconds. These achievements comes courtesy of a 28-kWh lithium battery located in the floor of the passenger compartment and a 132-kW (177-horsepower) motor powering the front wheels. Torque specs for the unit seemed to have increased somewhat and are now given as 340 Newton meters (250.77 pound-feet). It boasts an 11-kW charger and can add as much as 62 miles of range to a deleted battery in an hour and a half. Sadly, it is not Supercharger compatible. The B-Class Electric Drive, which is built on the same production line as the gasoline-powered version, is going to go on sale in Europe around the end of the year and will also come in a right-hand drive version for other markets in 2015. Although pricing has not yet been announced, Mercedes execs expect it to be quite competitive with the BMW i3. Scroll below for the press release (Google translated from German). Model offensive: Mercedes-Benz launches first major series for electric cars - the start of production at Mercedes-Benz in Rastatt: B-Class Electric Drive begins For the first time large-scale production of Mercedes-Benz models with internal combustion engine and electric drive on the same line Stefan Abraham: "With the B-Class Electric Drive we are expanding our production portfolio at the Rastatt plant is a highly innovative drive variant." In the Mercedes-Benz plant in Rastatt today through the first B-Class Electric Drive off the line. This makes Mercedes-Benz models are produced with internal combustion engine and electric drive on the same line at the site for the first time. The B-Class Electric Drive is based on the Mercedes-Benz front-wheel drive architecture of the new Mercedes-Benz compact car generation and uses the modular component kit.