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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.

The Scaldarsi Emperor I is a Mercedes-Maybach S600 taken to 11 on the bad-taste scale

The custom car world is filled with vehicles designed by people that don't know when to quit. The Scaldarsi Emperor I, shown here in all its awful rose-gold glory, appears to have been designed by an enthusiast of the KFC Double Down. It's a hideous creation and we can't let it pass without saying so. We also can't look away. Scaldarsi's so-called "artists" have thoroughly reworked what was a perfectly wonderful Mercedes-Maybach S600. In addition to the 24-karat rose gold accents, the company has crafted a new front fascia and modified the side and rear treatments. Inside, the general S600 shape remains, but new leather and wood cover nearly every surface. Your insane imagination will not be tamed, as there are 24 colors for the leather, 24 types of animal hides, 78 types of wood, and 16 exterior body colors available. The result, at least in the publicity shots, is a mix of awkward textures and seats that look like a pile of colorful marshmallows. Those interested in purchasing an Emperor I can option custom-engraved champagne glasses, matching tote bags, and even an Emperor Edition Rolex watch. If the standard key fob is too common for your taste, they'll make you one custom. Watch out for that Scaldarsi logo, though – it looks mean enough to rip through your pocket and take a chunk out of your leg. We will give Scaldarsi credit for wisely letting Brabus handle the power. The Emperor I uses the 6.3-liter twin-turbocharged V12 from the Brabus Rocket 900. This 888-horsepower monster is a tuned version of the V12 AMG uses in the S65, SL65, and G65. The Emperor I has an estimated 0-60 mph time of just 3.7 seconds, which is quick enough to leave stoplights before anyone recognizes you behind the wheel. Scaldarsi is asking a mere $1.5 million for each of 10 examples being created. If you miss out on the Emperor I or are some kind of twisted completist that needs one of each, this just the first in a series of customs the company will offer. Next up is the Emperor II (a Mercedes-AMG S65 Coupe), which will be followed by the Emperor III (Bentley Bentayga), Emperor IV (Mercedes-AMG G65), and Emperor V (Bugatti Chiron). Lord help us all. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lots of new cars were unveiled in Munich this week. Here's what you might've missed

The 2021 Munich Auto Show is happening this week and due to ongoing corporate travel restrictions, we remained firmly planted on this continent. So, although we can't tell you exactly what it's like inside the futuristic new Mercedes EQE electric sedan or fully appreciate the funky Volkswagen ID.Life concept, there's no shortage of details and analysis to provide.  Obviously, as Germany's premier auto show in 2021, the cars unveiled were primarily from the German brands. We also focused mostly on the cars that might actually make their way to the United States, or at least inspire those that will.   2023 Mercedes-Benz EQE is an electric alternative to the E-Class While the EQS paved the way for Mercedes' electrified future, much like the S-Class before it, the EQE stands to be the car that will move in far greater numbers -- much like the E-Class before it. Mercedes-Benz EQE 350 View 12 Photos   Mercedes-Maybach EQS Concept shows SUV future of the flagship brand Opulence will still have a place in an electrified future, as Maybach gets into the EQ game with a grand electric SUV. Mercedes-Maybach EQS Concept View 4 Photos   Volkswagen ID.Life concept previews the city car's high-riding EV future Well, isn't this adorable? Though perhaps a tad derivative of the Honda E, Volkswagen's blocky little crossover EV nevertheless represents a handsome new direction for VW design. We like this better than the rounded looks of the current ID.3 and ID.4.  2021 Volkswagen ID.Life concept View 20 Photos   BMW i Vision Circular is a 100% recycled and recyclable hatch Behold, the next BMW 3 Series! Just kidding. Besides this, BMW displayed cars in person for the first time that it had previously only unveiled on the interwebs, including the new 2 Series and revised iX3. It also unveiled some bikes. BMW i Vision Circular Concept View 63 Photos   Audi's GrandSphere concept was designed as a road-going private jet Does Audi know what a sphere is? Cause this isn't anything like one. Still, it's quite a handsome thing, and as one of three Sphere-branded concepts, previews the next direction of Audi design (which is pleasantly reminiscent of two-decade-old Mazda design). No complaints here. 2021 Audi GrandSphere concept View 26 Photos   Porsche Mission R is a 1,000-horsepower electric monster Just like the Mission E previewed the Taycan, this apparently previews another future car.