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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.

Mercedes GLE to debut in NY, will get plug-in variant

On the eve of the 2015 Detroit Auto Show, Dieter Zetsche, Chairman of Daimler AG, said that 2015 will be the "Year of the SUV" at Mercedes-Benz. This means a host of new and updated sport-utility and crossover models, kicked off with the debut of the GLE-Class Coupe (pictured above) – in 450 AMG Sport and Mercedes-AMG GLE63 variants – here in the Motor City. But there's far more in store throughout the year. First, Mercedes has confirmed it will debut the non-coupe GLE-Class – the M-Class replacement – at the New York Auto Show in April. It will share most of its architecture with the GLE Coupe revealed here in Detroit, but will also come with a plug-in hybrid option. Mercedes-Benz debuted an S-Class Plug-In Hybrid at the Los Angeles Auto Show last November, and will expand this technology to other core models in its range. First, we will see the C350 Plug-In Hybrid, which also makes its debut here in Detroit. Beyond that, Mercedes has confirmed that the GLE-Class will benefit from a plug-in option, as will the upcoming GLC-Class crossover – the renamed replacement for the GLK. No official timing has been given for the GLC, but Mercedes confirms that both it and its largest utility vehicle – the GLS-Class (currently known as the GL-Class) – will debut "later this year." Year of the SUV, indeed. Featured Gallery 2016 Mercedes-AMG GLE63 Coupe View 9 Photos Green Detroit Auto Show New York Auto Show Mercedes-Benz Crossover SUV Hybrid Luxury PHEV 2015 Detroit Auto Show mercedes glk-class mercedes gl-class mercedes gle-class mercedes glc-class mercedes gls-class

Petrolicious shows Mercedes 280SL as architecture in motion

While still an absolute beauty today, the design of the pagoda-roof W113 Mercedes-Benz SL was revolutionary when it debuted. Moving away from the soft curves of the previous SL models, the all-new generation brought an upright, angular shape that was as much architectural as automotive. In the latest video from Petrolicious, owner and architect Daniel Monti expounds on the inspiration that he gets from his 1969 280SL's fantastic styling. The roof is the most famous design feature of this generation of SL. Look at the top from the front or back, and you can see a gentle, downward arc that evokes the look of a pagoda. That one styling element is also a fabulous counterpoint to a vehicle that is largely more angular than curvaceous. Petrolicious wonderfully illustrates how some of the SL's form-follows-function design aesthetic can be found in the architect's work in this video's heaping helping of mid-century modern goodness.