Keyless Go*illumated Door Sills*ipod*hitch*parktronic*navigation*rare*clean on 2040-cars

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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.

Smart Cross Connect app changes how ForTwos get used [UPDATE]

UPDATE: The story's been updated with a response from a Smart representative. There are parking spaces, and then there are Fortwo parking spaces. Smart, which is owned by Mercedes-Benz parent Daimler, is looking for a way for its customers to take advantage of the difference. Think of it as a big thing for really small cars. Smart is working on an app for the redesigned Fortwo called Cross Connect that will be available as soon as next month, says Automotive News, citing Smart chief Annette Winkler. The idea is to connect owners of the diminutive two-seat vehicles to, for example, let them tell each other when there's a parking space that's too small for just about any other vehicle but big enough for a Smart. If you think that's a small thing, think again. The Fortwo is 8 feet, 10 inches long. That's almost six feet shorter than a Toyota Prius, which itself isn't exactly a stretch limo. In fact, the length of a Smart Fortwo is just 10 inches longer than the width of a Ford F-150, in case anyone was having misgivings about parking perpendicular in a parallel spot. Parking has become more relevant, and tougher, as more people move to urban centers. For instance, BMW said earlier this month that it would discontinue its DriveNow car-sharing operations in San Francisco because of the challenge of parking vehicles on that city's streets. Other possible amenities with the Cross Connect app including the enabling of personal car sharing as well as information on car washes that offer discounted rates for Smart Fortwo. Yes, there are some out there, apparently, and we salute them. Michael Minielly, a spokesman for Mercedes-Benz, confirmed to Autoblog that the Cross Connect features would be available in November. You can read Autoblog's driving impressions of the 2016 Fortwo here. Featured Gallery 2016 Smart ForTwo: Second Drive View 23 Photos News Source: Automotive News-sub.req.Image Credit: Drew Phillips Green Mercedes-Benz smart Technology Smartphone fortwo

Sunday Drive: And now for something completely different

This past week played host to a wide assortment of automotive news, highlighted by our first drive of the 2018 Volvo XC40. The Swedish crossover is targeted at young, successful Millennials, but it offers cool styling, fun dynamics, and all of today's must-have technology, so we think it ought to appeal to a much wider swath of the automotive marketplace. From there we answer the question, "What are hard on the outside and soft on the inside?" as we take a look at the next Mercedes-Benz G-Class SUV. We expect the German automaker's flagship luxury SUV to remain boxy on the outside, but the interior is going to be soft, supple, and luxurious. And then there's the Honda Clarity Plug-in Hybrid, which starts at starts at $34,290 and boasts 212 total system horsepower, 232 pound-feet of torque, 47 miles of electric driving range, and a total range of 340 miles. EPA rates it at 110 MPGe in EV mode, and 44 city/40 highway/42 combined overall. We compare it to other plug-ins like the Chevy Volt and Toyota Prius Prime. And finally we have some more spy photos of the 2019 Ram 1500. It doesn't have a traditional crosshair grille, but it's got plenty of chrome and an attractive upright stance that's sure to tempt future truck buyers looking for some sophistication to go with their work gloves. As always, stay tuned to Autoblog this week to see all the automotive news that's fit to print. 2018 Volvo XC40 First Drive Review | The Masspirational crossover Mercedes-Benz G-Class gets the luxe, high-tech treatment 2018 Honda Clarity Plug-In Hybrid Review | It's what's on the inside that counts 2019 Ram 1500 shows chrome grille and more production parts Green Honda Mercedes-Benz RAM Volvo Technology Truck Crossover SUV Luxury Performance Sedan volvo xc40 sunday drive