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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.

Mercedes-Maybach SUV concept headed for Beijing reveal in April

Mercedes-Benz has toyed with the idea of a Maybach SUV for at least 11 years. According to Autocar, we'll finally see a concept with production intent at the Beijing Motor Show next month, the luxury SUV slated for market release next year. As has been the rumor for at least six years, the Maybach people carrier will be based on a stretched version of the GLS, which moves to the company's new Modular High Architecture with the 2019 model. Back in 2007 when Maybach was its own brand and selling roughly 300 units per year, Car magazine reported that brand chiefs were interested in convertible versions of the Maybach 57 and 62 sedans, and an SUV. Maybach built a one-off concept based on the GL — the former GLS-Class — in 2009, but never took the idea further. The rumor popped up again in 2014, then in 2015, reaching not-if-but-when status early last year. A decade on, it's finally time to play the hand. Even though the super-luxe SUV would sit on a stretched version of what is already a three-row SUV, it's reasonable to expect the Maybach SUV will only get two rows. That would give designers plenty of extra room for seating luxury and amenities even beyond the S-Class Maybach. On the other hand, if Mercedes sticks to the rough Maybach playbook so far, a triple-row Maybach would be the only such SUV in the mid- to upper-six-figures. The S-Class 560 4Matic starts at $102,990, the S 560 4Matic Maybach starts at $168,600. Applying that spread to the $94,500 GLS 550, you'd land around $160,000 before adding the markup for a new generation. That kind of starter pricing might make a great tweener proposition. Mercedes could focus on a range of buyers who want to go upscale from the $125,300 AMG GLS 63, without needing to worry — yet — about challenging Bentley and Rolls-Royce. Power is said to come from some version of the company's oft-applied 4.0-liter twin-turbo V8 that puts out 462 horsepower in the S 560, but the 3.0-liter inline-six hybrid in the S 560e is under consideration. We'll know next month, when the lightly veiled concept takes the stand in China. The full-on production version should get an introduction at this year's L.A. Auto Show. Related Video:

2014 Mercedes S-Class priced lower from $92,900*

The massively overhauled 2014 Mercedes-Benz S-Class will start at $92,900, not including a $925 destination fee, when it arrives at US dealers in October. That's a 2.8-percent drop over the 2013 S-Class, although Mercedes is fast to point out that a drop in price doesn't equate with a drop in equipment for the executive sedan.
Besides an extra 20 horsepower from the 4.6-liter, biturbocharged V8, the S550 sports a standard panoramic sunroof, keyless start, a rear-view camera and LED headlights, taillights and interior lights. Adding the German manufacturer's 4Matic all-wheel-drive system bumps the S550's price up to $95,900.
If the S550 doesn't quite cut the mustard, you can wait until November, at which point Mercedes will quite happily sell you the new S63 AMG 4Matic for $139,500. Power is also up on the S63, from a max of 563 ponies with an AMG Performance Package to 577 horsepower as standard on the 2014 model.