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Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

2021 Mercedes-Maybach S 580 base price starts at more than $185,000

A few months ago, the 2021 Mercedes-Maybach S 580 made its debut as the pinnacle of the Mercedes lineup. Now the company has revealed the price, and, unsurprisingly, it's not cheap. The base price for the sedan is $185,950 including destination fee. That price makes the Mercedes-Maybach S-Class one of the more expensive flagship sedans on the market. It's more than $25,000 more than the top-of-the-line BMW M760i, and more than $50,000 more than the Audi S8. It's even $20,000-plus more than the Mercedes-Maybach GLS 600 SUV. On the other hand, the Mercedes-Maybach S 580 is cheaper than the $200,000-plus Bentley Flying Spur and the $300,000-plus Rolls-Royce Ghost. All this money gets you an S-Class with a unique grille and fascias, as well as an extra 7 inches of length between the wheels. Nearly every surface of the interior is wrapped in leather, and whatever isn't is probably finished with wood or features a screen. Powering it is a twin-turbocharged 4.0-liter V8 making 496 horsepower and 516 pound-feet of torque. It also has a nine-speed automatic transmission, air suspension and four-wheel steering. If you're looking to pick one up, they'll be reaching dealers this summer. Related Video:  

2017 Mercedes GLS brings Benz's flagship SUV up to date

Mercedes-Benz is continuing the revision of its entire crossover lineup with the introduction of the new GLS. A facelifted version of the existing GL-Class, the new GLS aims to serve as the flagship of the German automaker's SUV lineup in the same way that the S-Class does for its sedans, coupes, and convertibles. As an update (rather than a completely new model), the new GLS is physically mostly the same as the GL it replaces, but packs a comprehensive series of revisions to bring it up to date. Those revisions can be seen on the outside, with revised styling front and rear. However the real changes have been made underneath the skin. The seven-passenger interior features a new three-spoke steering wheel, instrument panel with media display, center console with touchpad control, ambient lighting, and even an available air ionization system. The interior trim has been redone as well, with available Designo Exclusive and AMG Line packages to individualize it further. The new GLS will be offered Stateside in four engine specs. The base model is the GLS450, with a 3.0-liter twin-turbo V6 producing 362 horsepower and 369 pound-feet of torque. Step up to the GLS550 and you get 455 hp (20 more than before) and 516 lb-ft of torque. There's a six-cylinder diesel option in the GLS350d, good for 255 hp and 455 lb-ft. And the performance flagship, of course, is the new Mercedes-AMG GLS63, with 577 horsepower and 561 lb-ft of torque. The standard versions come with 4Matic all-wheel drive and a nine-speed automatic transmission with additional settings. The AMG version gets a rearward-biased traction system and a seven-speed dual-clutch gearbox instead. The standard models ride on an improved air suspension with enhanced damping, but the GLS63 adds a Sport+ instead of Off-Road setting on the Dynamic Select controller. There's a low-range gearbox and locking center diff available as well for those who plan to go off-road. Mercedes has fitted the GLS with all its latest electronic systems, including Collision Prevention Assist Plus, Crosswind Assist with Attention Assist, Brake Assist BAS, Pre-Safe braking, and more. The optional Driver Assistance package adds Distronic Plus with Steering Assist, pedestrian detection, cross-traffic assist, active blind-spot monitoring, lane-keeping assist, and more. There's an optional intelligent LED lighting system and heated adaptive windshield wipers as well.