90 Volvo 240 Wagon 5 Speed Manual Rare Very Well Maintained No Reserve on 2040-cars

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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.

Car dealers, factories and ports close in the path of Hurricane Florence

Hurricane Florence has caused CarMax to close four stores in North Carolina, South Carolina and Virginia. The closed locations are in Myrtle Beach, Charleston, Winterville and Virginia Beach. It is possible for the company to close more stores, reports Automotive News. Daimler and Volvo have also shuttered their manufacturing facilities in the region to prepare for Florence. The storm is expected to reach North Carolina and South Carolina today or tomorrow. Automotive News says every coastal car dealer it reached on Tuesday was closing, and others not in the projected landfall area were monitoring the situation. There are approximately nine million vehicles in operation in the area that Florence is expected to hit, with a vehicle density of 162 vehicles per square mile. It is likely that not as many vehicles will be lost as during hurricanes Harvey and Irma, as population is less dense; areas affected by those storms had over 300 vehicles per square mile. The chief economist of Cox Automotive told Automotive News that some 20,000 to 40,000 vehicles could end up flooded if Florence keeps its path; however, recent reports have indicated Florence has weakened to a category 2 hurricane on Thursday. Tesla has again unlocked more range for some of its older models to make evacuation easier; the same was done a year ago in preparation for Hurricane Irma. As well as automotive manufacturers and dealers, automotive transport providers are readying for the storm and clearing cargo away. The container and auto terminals at Port Charleston will be closed from Thursday to Saturday, affecting part shipments to the BMW manufacturing facility in Spartanburg; BMW's spokespersons have said no production disruption is expected. Parts are delivered via railroad to Spartanburg by Norfolk Southern, which is also suspending operations for the time being. Vehicle hauler United Road has moved its rigs to safer regions and suspended deliveries, and car carrier vessels are trying to make it away from the storm's path in time. Related Video: News Source: Automotive NewsImage Credit: NASA via Reuters Auto News Plants/Manufacturing BMW Mercedes-Benz Volvo Car Buying

Volvo Trucks makes some pretty strong brakes

Often dashcam footage from Russia shows some of the worst driving imaginable, but this is an exception. The Volvo truck driver in this video definitely earned himself a drink or two at the end of the day after making it through this potentially horrific crash. As do the folks at Volvo that engineered those brakes.
The truck driver shows some fantastic reaction time as the silver hatchback suddenly pulls out of an intersection. It looks like he only has a few yards to bring the behemoth to a stop before demolishing the little car. While it's an impressive feat, the best part of the video has to be the driver's bow when he gets out of the truck. He looks like a maestro who just finished conducting a symphony asking for a round of applause.
Scroll down to check out this truck driver's skills and see if he earns his bow afterward.