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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 AMG and Cigarette Racing debut 2,220-HP electric motor boat

Take the Mercedes-Benz SLS AMG E-Cell, stretch it and take off the wheels then make it float and you've basically got the just-unveiled Cigarette AMG Electric Drive Concept. Powered by an all-electric powertrain that offers 2,200 horsepower and 2,213 pound-feet of torque (and uses "numerous components" taken from the not-quite-as-yellow SLS AMG Coupé Electric Drive), the sleek concept is being called the "world's most powerful electric drive powerboat." What that means is a top speed of over 100 miles per hour from four 60-kWh lithium-ion batteries and two banks of six liquid-cooled, permanent-magnet synchronous electric motors. And the 240 kWh of total energy should provide plenty of juice out on the water.
Launched (but not literally) at the Miami International Boat Show today, the Cigarette AMG Electric Drive Concept is the result of a partnership between Mercedes-AMG and Cigarette Racing. The boat is 38 feet long (much longer than the 15-foot SLS) and is plastered with AMG branding on the sides and top of the bow above the matte chrome yellow paint (officially called AMG Electricbeam mango). Two 220-kW chargers can refill the batteries, dockside, in about seven hours.
The idea of a powerful electric boat is nothing new (Henrik Fisker talked about a plug-in hybrid watercraft late last year), but this is the first time we've seen Mercedes put its EV technology on the water. Anyone who's afraid of driving an EV in the rain should take note. Check out the complete press release below.

2014 Mercedes-Benz E63 AMG S Wagon is one hot hauler [w/video]

Mentioned at the debut of the redesigned Mercedes-Benz E-Class back in January, Mercedes has finally pulled back the curtain on the E63 AMG S, which was on display at the New York Auto Show in wagon guise. The 2014 E63 AMG S ups the ante even more from a "base" E63 AMG, improving the car's performance and styling - not that it needed help with either to begin with.
Our favorite S-model upgrade is the added output tweaked out of the 5.5-liter twin-turbo V8 producing 577 horsepower and 590 pound-feet of torque, which represents a substantial gain of 27 hp and 59 lb-ft of torque over the stock E63. In wagon form, the E63 AMG S can run from 0-60 miles per hour in just 3.6 seconds and hit an electronically limited top speed of 186 mph. All 2014 E63 AMGs come with Mercedes' 4Matic all-wheel-drive system, but the S-Model adds in a limited-slip rear differential for improved performance.
Mercedes has made sure that the extra money being spent on the S-Model is instantly noticeable with slightly different design cues and black along with 10-spoke wheels with red brake calipers peeking through. Plenty of silver-chrome and high-gloss black accents finish off the exterior styling, while the interior adds Alcantara on the steering wheel, accent stitching on the leather and contrasting silver seat belts on models with the black interior. Scroll down for an official video and press release.