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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:

Next Mercedes E-Class to get quad-turbo inline-six, augmented reality

It's been 10 years since an inline six-cylinder engine sat up front in a Mercedes-Benz road car, but the straight-six shooter returns with the 2016 E-Class. According to a report in Car we'll see a modular family in gasoline and diesel versions, and Auto Evolution adds that the bore and stroke will be shared by both fuel types. Car says a 2.9-liter diesel variant arrives first in global markets, putting out 313 horsepower when twin-turbocharged and "over 400bhp" when fitted with two more battery-powered turbos. Auto Evolution's numbers match those and add torque figures, with 516 pound-feet for the former and 627 lb-ft for the latter - but it makes no mention of the two extra turbos. AE believes the gas versions will ring in at 367 hp and 479 lb-ft, and 435 hp and 553 lb-ft. Keep in mind that until we hear it from Stuttgart, this is all (exciting) speculation. Elsewhere in E-ville, more aluminum and that scalable MRA platform mean a weight loss of somewhere between 154 and 330 pounds compared to today's car. Seven bodystyles (including the CLS-Class) will continue to make up the range, with the coupe and convertible growing a bit to provide proper four-seater comfort. It will bear the new standard for Daimler technology, showcasing the next step in the company's Intelligent Drive with features like phone-controlled self-parking in confined spaces and augmented reality in the heads-up display. Related Video: Featured Gallery Mercedes-Benz E-Class Spy Shots View 12 Photos News Source: Car, Auto Evolution Rumormill Mercedes-Benz Technology Diesel Vehicles Hybrid Luxury Performance Sedan augmented reality

Mercedes investing $500 million for new Sprinter plant in SC

The commercial van segment is exploding in popularity in the US right now with a vast array of recent products from multiple marques, and there's even more on the way from automakers like Hyundai. Mercedes-Benz is trying to grab a bigger share of the expanding market, too, and is launching its smaller Metris here in the fall. Now comes word that Mercedes will construct a $500-million factory in Charleston, SC, that will build the next-gen Sprinter domestically. According to Mercedes, construction of the new plant will begin in 2016, and when complete, the site will cover around 200 acres, including a body shop, paint shop and assembly line. It will also employ 1,300 people who will be building Sprinters badged as both Mercedes and Freightliner models. Rumors about this new construction go back to late last year. Mercedes currently has to ship some partially disassembled Sprinters into the US from Germany, paying import duties on them, and then the company puts the vans back together at a site in Ladson, SC. The process obviously adds costs to the models, and the domestic factory should mean a more price-competitive vehicle. Plus, a local factory means quicker deliveries to dealers. Despite the laborious import process, the Sprinter is a hit in the US. Mercedes sold 25,745 of them in 2014, which made the country the van's second-largest market behind Germany. They were first launched here in 2001 and since then have gained a nine-percent market share in the segment, according to the company. Mercedes is on a construction boom at the moment. The company is building a new corporate headquarters for the US in Atlanta, GA, due to be complete in 2018. The German brand is also investing $2.4 billion to expand its Tuscaloosa, AL, factory to build models like the forthcoming GLE-Class. MERCEDES-BENZ VANS TO INVEST AROUND $500 MILLION IN NEW VAN PLANT IN SOUTH CAROLINA, U.S. 09/03/15 from Mercedes-Benz New plant to be built in Charleston, South Carolina, beginning in 2016 Next generation Sprinter also to be manufactured in the U.S. Expansion of the global production network as part of the "Mercedes-Benz Vans goes global" growth strategy Creation of more than 1,300 new jobs planned Volker Mornhinweg: "We are investing around half a billion dollars to create a top-notch Mercedes-Benz van plant here in South Carolina.