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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 releases first shot of AMG GT3

A week ago we got a rendering of the upcoming race-only Mercedes-AMG GT3, to be shown to the public for the first time at the Geneva Motor Show. Now, Mercedes has let loose a photo of the front of the car and it looks very serious, a trait undoubtedly helped by its link to the past: that grille motif goes straight back to the W154 Silver Arrows pre-war racer driven to the 1938 European Championship by Rudolf Caracciola. Those angry, angled and sunken headlights don't hurt, either. It will be ready in time for the 2016 GT3 season and come loaded with expectations, since the SLS AMG GT3 it replaces has been a victory machine around the world. Unlike that SLS, though, this car will spawn a hardcore road-going version - not to be called GT3 - with less weight and more power, armed to do battle with the coupe that comes first to mind when that alphanumeric is mentioned. With the way the AMG GT S already gobbles up circuits, we're prepared to be impressed by what comes next. Related Video: Featured Gallery Mercedes-AMG GT3: teasers News Source: Mercedes-AMG Motorsports Geneva Motor Show Mercedes-Benz Coupe Racing Vehicles mercedes-amg 2015 Geneva Motor Show gt3 fia gt3 mercedes-amg gt3

Mercedes-AMG Hulks out again with new G63 test

The last time we saw Mercedes-Benz testing its camouflaged, lime-green G63 AMG, it was on the sunny roads of Germany. Perhaps recognizing that this was a tragic waste of its talents, Mercedes has now moved testing of its new brute to the windy, snowy tarmac of Sweden. Besides being a far more suitable environment for its monstrous G-Wagen, Mercedes' arrival in Scandinavia gives us yet another look at its 6x6-inspired updates. Judging by the license plates, this is the exact same vehicle we spotted way back in November, which gave us our original look at the impending arrival of the G's hoisted-up ride height, more aggressively flared fenders and meatier off-road-ready tires. As with our previous report, our spies are still arguing that the next G63 will be fitted with Mercedes' 5.5-liter, twin-turbocharged V8. That means as much as 544 horsepower and 560 pound-feet of torque will be on tap, and it'll all be dispatched via a seven-speed automatic transmission. The next G-Wagen is still on pace for a debut this year, although we still aren't sure where. Forced to put money on it, we'd bet on a European show, likely March's Genevan extravaganza or September's Frankfurt show.