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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.

Infiniti shows Q30 interior ahead of Frankfurt debut

Infiniti is supposed to debut the all-new Q30 hatchback at the 2015 Frankfurt Motor Show, but as the show is still a couple of weeks away and the company has elected to release yet another image, we aren't sure there'll be all that much to see come Sept. 15. With that in mind, then, we give you the first images of the entry-level hatch's cabin, and they're, um, wow. We knew the Q30 had a lot in common with the Mercedes-Benz A-Class but as these images show, this is far more than a common platform. The steering wheel, instrument cluster, switchgear, and shifter are direct from the Mercedes parts bin. From the looks of the images, the Q30 will even have a Mercedes-style key. This might not garner much attention in the budget ranks – take the Scion iA and Mazda2, for example – but this degree of parts sharing in the premium market is sure to raise some eyebrows. It's also a rather bewildering move for Infiniti. The company is, in effect, selling a Mercedes-Benz to any new customers it attracts. That'll certainly make a Q50 a hard sell when it comes time for an upgrade. Now, in Infiniti's defense, there are some differences in the layout here. The triple nozzle-style HVAC vents have been replaced with a more conventional pair of outlets, and the instrument cluster hood extends over the built-in navigation screen. That design decision, in particular, will certainly appeal to critics of the tacked-on-tablet look offered by Mercedes. The analog buttons for the multimedia system have also been tweaked, with the result looking far cleaner than the mess of buttons offered on Mercedes' products (we wouldn't be shocked to see this layout arrive on a facelifted A-, CLA-, or GLA-Class in the near future, though). Beyond those changes, though, there are multiple Mercedes design hallmarks here, including the location of the controls for the seat adjustments. You can check out the Q30's cabin in both right- and left-hand drive varieties courtesy of the images above. And for comparison's sake, we also included our most recent gallery of the Mercedes-Benz GLA-Class at the bottom of the page. Have a look and be sure to scroll down for the official press release. September 1, 2015 Countdown Frankfurt: First ever Infiniti Q30 active compact opens its doors before world premiere ? Q30 – The first global Infiniti compact ? Q30 interior design echoes daring expression of exterior ?

Mercedes-AMG teases GT interior, announces fall 2014 debut

Mercedes-Benz opted to tease the assembled media at its post-New York Auto Show party, showing off a pair of images of the exquisitely crafted interior of the highly anticipated successor of the SLS AMG - the V8-powered Mercedes-AMG GT.
Slated for a debut in the fall at either Paris or Los Angeles (we're betting Paris), you'll note straight away that there's something wrong with this car's name. Where's the "Benz?" Well, it's been ditched to, as Mercedes says, "make the dream of the authentic Mercedes-AMG sports car come true." Sorry Karl.
"The new Mercedes-AMG GT proves that we will be positioning AMG as a dynamic sports car brand even more strongly and aggressively than before," said Tobias Moers, CEO of Mercedes-AMG.