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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 and Ericsson to take Spotify on the road

Volvo is working to bring Spotify to its vehicles. Ericsson has announced it will provide its Connected Vehicle Cloud service to Volvo for future products, and Spotify streaming music is part of that service. Like Toyota Entune and other infotainment services, the Connected Vehicle Cloud will use the driver's smartphone as a modem to stream music and serve as a base for other applications, all of which will be controllable through the vehicle interface. Expect to see the service launch in 2014, though Ericsson stresses later generations will feature an embedded modem with its own SIM card that will piggyback off of the owner's phone data plan.
But that system won't show up in production vehicles until at least 2016. In the interim, Ericsson says it will continue to work with government agencies on its car-to-car communication efforts. That program could eventually help pave the way toward autonomous road trains capable of helping vehicles travel safely together while also reducing traffic congestion. Wired has a full break down of the Connected Vehicle Cloud strategy. You can read it here.

Tesla poaches Volvo interior engineering boss Anders Bell

Tesla is the belle of both the eco-friendly and luxury balls. The company's Model S and Model X are status symbols, and benchmarks for the ability to blend both green credentials with performance and a luxury driving experience. That said, their cabins aren't necessarily deserving of those credentials. That's why this little news nugget is such a big deal for the California brand. Electrek reports that Tesla has poached Anders Bell from Volvo. Bell confirmed the move via his LinkedIn page. The (now former) head of interior engineering and senior director of engineering was responsible for the Swedish brand's raft of high-quality, beautifully crafted cabins. Doubtless Tesla wants a piece of the critical acclaim Volvo's received for the interior design and quality on its 90-series models – XC90, S90, and V90. The move is, at least based on Electrek's stalking of Bell's LinkedIn profile, a big loss for Volvo. Bell joined the Swedish brand fresh out of Halmstad College's engineering program in 1998 and has spent his entire career working for Gothenburg and its various owners. That included a nearly four-year stint in China after Geely bought Volvo from Ford, assisting with the Chinese launch of the XC60. Bell's listed his final project with his previous employer as "development, design, and release of Volvo interiors to be launched 2017-2018 and concept definitions of interiors 2019 and beyond." That means that while Bell started at Palo Alto this month, his impact at Volvo won't fade for several more years. Related Video: News Source: Electrek via Jalopnik Green Hirings/Firings/Layoffs Tesla Volvo volvo s90