1993 Volvo 940 Base Sedan 4-door 2.3l on 2040-cars

Auto blog

Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.

Autoblog Podcast #317

Mitsubishi Mirage, Toyota thinks of beefing up US production, Marchionne on Alfa, Dart and minivans, Ford Atlas concept, Honda Gear concept
Episode #317 of the Autoblog Podcast is here, and this week, Dan Roth, Jeff Ross and Michael Harley bookend the other podcast topics with a pair from the Montreal Auto Show, the Mitsubishi Mirage and Honda Gear concept, and in between we talk about Toyota building all its US-market cars stateside, Hyundai building a Nurburgring test facility, Sergio Marchionne's latest words about Alfa Romeo, Dodge Dart powertrains and the future of Chrysler vans. Some chatter about the Ford Atlas concept finishes up the meat of the 'cast and then we wrap with your questions. For those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #317:

Volvo-based Futuricum electric truck sets Guinness range record

There is a new Guinness World Record for the longest distance traveled by an electric truck on a single charge. Swiss-based firm Futuricum built a Volvo-based delivery truck that drove for 683 miles on a closed test track. Although the prototype used to set the record has reportedly been in regular service on Swiss roads since early 2021, the record was set on a 1.7-mile high-speed oval operated by Continental near Hanover, Germany. The truck set off with a full charge and coasted to a stop 392 laps later; two drivers split their schedule in 4.5-hour shifts. Reaching the 683-mile threshold took about 23 hours, so the truck traveled at an average speed of 31 mph. Futuricum calls this a realistic average value for the truck's intended use — it's certainly not designed for long hauls. Whether it was empty or loaded with cargo wasn't specified, and we've reached out to the company for more details. What we do know is that the drivetrain was not modified, meaning the 680-horsepower truck is equipped with a 680-kilowatt-hour lithium-ion battery pack. That's over six times bigger than the battery in a Porsche Taycan. Driving at a constant speed on a closed track is very different than delivering parcels in real-world conditions, which is what the Futuricum truck normally spends its days doing. In more normal use cases, the model (whose speed is electronically limited to about 55 mph) has a driving range of around 250 miles, according to the manufacturer. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.