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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.

The Mercedes G-Class gets the full Maybach treatment before the curtain finally closes

Like the hotdog and soda combo at Costco or the official website for the 1996 movie Space Jam, the Mercedes-Benz G-Class has soldiered on nearly unaltered since its birth. Sure, there have been variants like the wonderfully over-the-top G63 6x6, but the G-Wagen is essentially the same squared-off SUV with rifle-bolt locks and doors with enough mass to support a minor gravity field. Spy shots show a replacement is finally on the horizon, but based on the leaked YouTube video above and Instagram post below, it looks like the current model is going to get the full Mercedes-Maybach Landaulet treatment before the curtain finally closes. While there has been no official word from the automaker, all signs point to a genuine Mercedes-Maybach product. The vehicle is badged as a G650, which falls in line with other current V12-powered Mercedes-Maybach products. The Maybach name and badge are found in all the expected places. The license closely matches other Mercedes German-manufacturer plates. The carbon fiber fender flares and portal axles look like they were taken from the G550 4x42. The latter means, despite the increased wheelbase, this new model should still be a formidable off-road machine. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. While we can't see the interior, look for the typical Maybach treatment. That means high-quality leather surfaces throughout and an increased focus on rear seat comfort and convenience. If this is indeed a G650, it's packing a 6.0-liter twin-turbocharged V12 under the hood that churns out 630 horsepower and 737 pound-feet of torque. The partial convertible top is what gives this the Landaulet moniker. According to the text on this Instagram post, there will only be 99 examples produced. Look for a full reveal in the next few months. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Europe getting special Mercedes-Benz CLA Edition 1

Last week when we saw the leaked ordering guide for the 2014 Mercedes-Benz CLA-Class, one particular image caught our eye showing the interior of the new sedan with a neon yellow stripe on the seats and yellow stitching throughout the cabin. As it turns out, this will be part of a limited-edition model called the Edition 1 about which Mercedes-Benz just released some information.
Usually, automakers wait until later in a vehicle's life to introduce special models like this, but the Edition 1 will be available right out of the gate for the first 12 months the CLA-Class is on sale. The 2014 CLA-Class Edition 1 includes the more aggressive Sport package adding AMG-style fascias and wheels, Bi-Xenon headlights and a lowered suspension; it will be offered only in five colors - unfortunately, Northern Lights Purple is not one of them. In addition to the bright yellow cabin accents, the Edition 1 will get sport seats wrapped in leather and microfiber, a sporty, flat-bottom steering wheel wrapped in Nappa leather and real aluminum trim on the instrument panel.
With no mention of the US, we're only left to imagine that this car will not be arriving on our shores, but customers in Europe will definitely be able to enjoy the mean styling and funky interior with prices ranging from 35,402 euros up to 43,940 euros.