1999 Silver Slk230! on 2040-cars

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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.

2016 Mercedes-Benz C350 Plug-In Hybrid on sale this fall

The Mercedes-Benz C350 Plug-In Hybrid can go from 0 to 60 miles per hour in less than six seconds and can travel 20 miles in all-electric range. As for the more practical issues related to the new PHEV, well, those details will have to wait a bit longer. The C350 Plug-In Hybrid makes its official debut at the Detroit Auto Show this week. The electrified Mercedes will start US sales this fall as a 2016 model. The sedan's four-cylinder, 1.9-liter, turbocharged gasoline engine will be paired with an electric motor that will deliver a combined 275 horsepower. The car will also have such goodies as regenerative braking and collision-avoidance systems, not to mention a top speed of 130 mph. We're still waiting for the car's estimated fuel economy, of course. Not to mention its sticker price. Spy shots of the C-Class PHEV started popping up in May, as well as reports that the Daimler division was testing prototypes in Germany. Meanwhile, this past summer, Mercedes-Benz started taking payments for the S500 Plug-In Hybrid, the German automaker's first production plug-in vehicle. That model, which started European deliveries last September, can zip from 0 to 60 in about five seconds. It also costs about $146,000.

Mercedes giving SL a nose job

Mercedes tends to keep its SL roadster around longer than most models. The previous fifth-generation machine was launched in 2001, underwent a facelift in 2009 and stuck around until 2012. That's when the current model was introduced, and before it's replaced, Benz is expected to roll out another facelifted version. And that seems to be exactly what we're looking at here. Expected to arrive sometime in 2016 as a 2017 model, the updated SL will likely feature revised styling front and rear (along with updated interior equipment). This prototype appears to be wearing headlights from the new S-Class Coupe, which don't fit precisely, but then Daimler still has a couple of years to get everything just right.