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Daimler buying 12% stake in Beijing Auto

Daimler and Beijing Automotive are officially going steady, with the German company set to take a 12-percent stake in the Chinese brand tomorrow. The two are already tied up in a Mercedes engine plant in Beijing, of which BAIC will increase its stake in, from 50 to 51 percent. Daimler will also get two seats on the Chinese company's board. BAIC may also gain the ability to produce cars on Mercedes-Benz platforms, according to Automotive News Europe.
The investment in BAIC comes ahead of that company's initial public offering, according to a report form Bloomberg, which indicates the deal will be inked tomorrow in the Chinese capital. According to the report, if the circumstances are right, BAIC may turn around and invest in the Germany company "soon."
It's not entirely clear just how much the 12-percent cut is costing Daimler, although it seems reasonable to assume that, as it's ahead of the IPO, the parent company of Mercedes is getting a bit of a bargain.

Race recap: 2016 Hungarian Grand Prix was the pits

The Hungarian Grand Prix hasn't seen a race this calculated since 2012, when Lewis Hamilton – driving for McLaren – led from pole position to the checkered flag. We don't expect massive action from the Hungaroring, but Hamilton's first win for Mercedes in 2013, the thrilling wet mess in 2014, and Ferrari's surprising dominance in 2015 made us hope for more on-track commotion this year. Hungary denied us that. Hamilton parked his Mercedes-AMG Petronas in second on the grid but stole the lead through Turn 1 and never looked back. Teammate Nico Rosberg yo-yoed behind him in second place, getting into DRS range on a few occasions but never close enough to pass. Red Bull's Daniel Ricciardo kept the leading duo honest, but the Aussie couldn't put genuine fear into the German team and finished third. This is the third year in a row for Ricciardo on the Hungary podium. The pits provided our few scraps of excitement. During a stretch when Ricciardo managed to close on Rosberg, Mercedes told Hamilton to speed up. When Hamilton said he couldn't go faster, Mercedes said they'd pit second-place Rosberg first instead. Suddenly, Hamilton found the extra pace. Ricciardo pitted in early, hoping that fresh tires and fast laps could allow him to pass one or both Mercedes drivers when they pitted, but once Hamilton hit the throttle the Red Bull couldn't respond. Further down the lineup, Jenson Button came in on Lap 5 so McLaren could fix his brake pedal problem. The radio exchange before the stop included one forbidden instruction to Button, though, so the Englishman had to return to the pits for a drive-through penalty. Renault's Jolyon Palmer beat Force India's Nico Hulkenberg in a straight-up pit stop battle on Lap 40, but threw the good work away on Lap 49 with a spin on track that cost him three places. A pit wall miscommunication meant the Force India pit crew wasn't ready for Sergio Perez when the Mexican arrived for his second stop on Lap 43. And Daniel Kvyat's regrettable run at Toro Rosso continued, first with car issues, then a drive-through penalty for speeding in the pit lane. Sebastian Vettel brought his Ferrari home fourth, sniffing Ricciardo's gearbox at the flag but unable to get around the Red Bull. Max Verstappen enacted a replay of the final stages of the Spanish Grand Prix, finishing fifth by holding Ferrari's Kimi Raikkonen behind for 19 laps.

Race Recap: 2015 Canadian F1 Grand Prix is better behind the front

As of Saturday afternoon in Montreal, Canada, it was all about the number four. Lewis Hamilton put his Mercedes-AMG Petronas on pole position for the fourth time at the Circuit Gilles Villeneuve, and now his tally of pole positions matches his race number: 44. Nico Rosberg lines up beside him, which is the fourth time that particular one-two combo has occurred this season. Ferrari spent three engine development tokens to try and close the gap to Mercedes, Kimi Raikkonen making the most of it with third position on the gird. His teammate Sebastian Vettel got the worst of it, however, when the MGU-K unit failed during Q1, leaving him 160 horsepower down and out at the first hurdle. Valtteri Bottas put a revitalized Williams on the grid at fourth, ahead of a Lotus lockout of the third row with Romain Grosjean leading the way in fifth, Pastor Maldonado just beside. Nico Hulkenberg got the first Sahara Force India into seventh – the team is still waiting on the upgraded B car that should be available for Austria – ahead of Daniil Kvyat in the first Infiniti Red Bull Racing and a "pissed off" Daniel Ricciardo in the second Red Bull. Sergio Perez made it two Force Indias in the top ten, a welcome result from a team performing below expectations of late. When the lights went out, at the very front it was much ado about not that much at all. Hamilton got away clean and stabbed across the track to close the door for Rosberg, giving Raikkonen a chance to take the inside line into Turn 1 in an attempt to clear Rosberg for second place. That didn't happen, leaving the two Mercedes' to run in grid position for the entire race. It wasn't boring – Rosberg stayed close, rubber-banding the time gap to the leader from a little more than one second to just under four seconds, and Montreal is famous for race-rearranging safety cars and on-track incidents. But none of those occurred, so Hamilton crossed the line 2.285 seconds ahead of Rosberg after 70 laps to earn his fourth victory in Canada and the first-ever victory for the Brackley, UK-based Mercedes team. Valtteri Bottas drove his Williams to third position, the first podium place for the team this year and a welcome salve to heal the team's wounds from a poor showing in Monaco. That placing came courtesy of being in the right place at the right time, which was not far behind Raikkonen when the Ferrari driver spun at the hairpin on Lap 28 after his first pit stop.