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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

Mercedes-AMG teases 2016 C63 Coupe [w/video]

Mercedes-AMG says it has "something fast" on the way. We now know it's the C63 Coupe, which will be unveiled to the world at the Frankfurt Motor Show this September. The carmaker teased its hot new two-door on Facebook, with a series of elusive photos showing a camouflaged C63 at the track. Something fast, indeed. We just drove the 2015 Mercedes-AMG C63 S sedan and found it to be absolutely wonderful. It's no slouch, either – the four-door will run 0-60 in under four seconds. We expect the same from the upcoming coupe, thanks to the incredibly powerful, 4.0-liter, twin-turbo V8 under the hood. The C63 sedan produces 503 horsepower and 516 pound-feet of torque in S guise. The coupe should do the same. The AMG C63 will debut with the rest of the C-Class Coupe range at the Frankfurt show, or possibly even a bit earlier. We can't wait. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

New Mercedes E-Class nearly exposed, may be Maybach

The all-new Mercedes-Benz E-Class is marching closer and closer to production, with a new round of spy photos giving us our best look yet at the S-Class-inspired looks of the German brand's executive luxury car. There really is very little camouflage this time around – what's there looks more like the kind of plastic wrapping you'd see on a freshly imported vehicle at the port. In front, we can see the new E will wear similar LED accents to the S- and C-Class. The E-Class' big and little brothers also inspired the tail of the new model, where we can see slightly disguised, vertically oriented LED taillights. Prominent, enclosed exhausts are very similar to what we saw in our spy shots of the Mercedes-Maybach E-Class. Aside from the exhausts, this particular car also wears the same blingy wheels as the range-topping tester we spied last August. The thick-rimmed, multi-spoke design isn't the only giveaway to this car's luxurious intentions, though. Our last Maybach sighting showed a car completely covered in camo, making it difficult to tell just how large the rear doors are relative to the car we're seeing today. Instead of the doors, though, we suggest you look at the windows. Like the August spy photos, this prototype features tinted rear glass, which could perhaps indicate that we're looking at yet another example the second Mercedes-Maybach model. So is this yet another Maybach E-Class? We're leaning towards yes. The size of the back doors – and the rear quarter window, in particular – is close enough to what we saw last month, and the presence of tinted glass, the same exhausts, and the same wheels can't be discounted either.