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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

2014 Mercedes B-Class ED battery much bigger than previously stated

There was something unexpected hiding in the new configurator for the 2014 Mercedes-Benz B-Class Electric Drive: a $600 "Temporary range extender." Since we've never heard of such a thing, we had to click through for more. The official explanation runs like this: A suite of options to further increase your driving range includes added insulation of the doors and roof for to increase climate-control efficiency, along with an electrically heated windshield and a range-extending charge function. By pressing a button on the console prior to charging, the maximum charge level for battery will increased for the next charge cycle. The higher-capacity charge can provide up to 17 additional miles of range. The passive features that increase range should be standard in all models, we think. But we were more curious about the battery charge situation. How do you increase a maximum? And is it a good idea to do so? The configurator includes this disclaimer, after all: Range extender should only be used on a limited basis, and could shorten battery life if used excessively. How much is excessive? We investigate below. The B-Class ED has, according to the specs, a 28-kWh battery. First, let's understand what this "temporary range extender" is all about. The B-Class ED has, according to the specs, a 28-kWh battery. But Terry Wei, from the Mercedes-Benz USA product and technology communications department, confirmed to AutoblogGreen that the B-Class ED is actually hiding a 36-kWh battery, but the automaker is calling it a 28-kWh battery because that's how much energy capacity is used in day-to-day use. Most automakers publicly claim the actual capacity and then admit they use a percentage of it. The Chevy Volt, for example, has a 16.5-kWh battery pack, but a "full charge" only fills up around 65 percent of that. In the B-Class ED, the 28 kWh of useable energy provides an EPA-certified 87 miles of range. But, since there are eight kWh of reserve, the temporary range extender (we think of it as a software update accessed by a button) can access some of that and offer the aforementioned 17 miles. Now that we know what we're dealing with, this reminds us of an evolved version of the "remote wireless charging" feature that was touted in the Reva EV. Wei said that the reason the feature is optional is because Mercedes doesn't think most people will need it. Eighty-seven miles is plenty for your average EV driver, but when you want to have 100+ in the tank, you can.

Mercedes-Benz GLA45 AMG spied in Sweden

We've spotted the all-new Mercedes-Benz GLA testing a couple times in recent months in getting closer to production form and shedding camouflage, but now it looks like we're see our first look at the AMG version of this compact crossover. The low ride height might trick some into thinking that we're just seeing the already-confirmed A45 AMG out testing, but the unique beltline, rear doors and side windows confirm this is some version of the GLA-Class.
What makes us so confident that this is the AMG model? Well, for starters, this prototype has beefier brakes with cross-drilled front and rear rotors and bigger front calipers, but it also sports dual exhaust outlets poking through the rear fascia and a suspension that has been lowered considerably. Our spy shooters said that this car's exhaust note made it almost certainly an AMG model.
Just to be clear, the GLA AMG will not be powered by a 4.5-liter engine. The closely related A45 AMG will carry the "45" in its name to celebrate the first 45 years of AMG, and our sources seem to indicate the AMG version of the GLA will do the same. We're expecting this sporty crossover to produce as much as 350 horsepower from its AMG-tuned four-cylinder engine, and like the all-new E63 AMG, it could very well come standard with 4Matic all-wheel drive.