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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.

Volvo S60 Polestar Concept finally spotted in the flesh

The Volvo S60 Polestar Concept has graced the pages of Autoblog numerous times in recent memory, but we've never actually seen it in person. That is, until now.
We caught up with the blazing blue sedan sitting on the floor of the LA Auto Show, and it looks even better up close. As a refresher, the four-door is fitted with a turbocharged inline six-cylinder engine (3.0-liter) generating an impressive 508 horsepower. Its close-ratio six-speed manual gearbox sends power to all four wheels through a fourth-generation Haldex XWD system. With a decent driver behind the steering wheel, the Polestar can crack the 60 mph benchmark in about 3.7 seconds as it rushes towards a top speed in excess of 186 mph.
Volvo has said that this Polestar-modified S60 was built for a specific client who paid upwards of $300,000 for the pleasure of owning it. But as they say, if there is market demand for more...

Volvo offers up more details on 2015 XC90 and its new infotainment system

We have more details on the 2015 Volvo XC90 and the all-new, touch-heavy infotainment system that will debut with it. An expansion of the Sensus system, as we've shown you before, we now know the new system won't only sport a large, vertically oriented touchscreen, but a head-up display and the ability to manage the systems via wheel-mounted buttons.
Key to the entire experience are the large, portrait-oriented touchscreen, a head-up display and the thumb controls you can see on the face of the steering wheel in the image above. Volvo is claiming that this combination will be easier to use and, fittingly for the Swedish manufacturer, safer.
"Using the screen is so logical that it will become part of your muscle memory very quickly," said Dr. Peter Mertens, Volvo's senior vice president of research and development. "Information, navigation and media are high up and easy to check. The phone controls, application icons and climate controls are located low, comfortable to reach and touch. All of this logic is based on extensive usability and user experience research and the latest technology."