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Auto blog
Geely chairman is now the single biggest investor in Daimler
Fri, Feb 23 2018Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.
Next Mercedes-Benz C-Class to get diesel, hybrid versions
Tue, 16 Apr 2013Mercedes-Benz is planning a more aggressive product strategy for its next-generation C-Class range. "We were fighting the 3 Series with two arms tied behind our back, and now we will change that," Steve Cannon, the automaker's US CEO, told Automotive News in a recent interview.
In addition to offering more body styles of the new C-Class, AN reports that the revamped Mercedes will also be offered here with hybrid and diesel powertrains. Currently, the C-Class comes in coupe and sedan variants, with only gasoline engines. The BMW 3 Series, however, is available as a sedan, coupe, convertible and wagon, and offers buyers the choice of gasoline, diesel (the upcoming 328d) or hybrid power.
Mercedes-Benz will show the next-generation C-Class at the 2014 Detroit Auto Show, with sales of the US-built sedan following in August. Coupe, convertible and hybrid models will follow in early 2015, and while diesel and all-wheel-drive versions are planned, no specific timetable has been released regarding availability.
2014 Mercedes-Benz SLS AMG Black Series [w/video]
Wed, 13 Mar 2013Now Even Sharper Than The Razor's Edge
There have been five Black Series models since the Mercedes-Benz SLK55 AMG Black Series introduced itself to European audiences in 2006. Following that, the Black Series club has hosted appearances by the 2008 CLK63 AMG Black Series, the 2009 SL65 AMG Black Series and last year's 2013 C63 AMG Black Series. The sixth member of the group is one we would have thought already was a Black Series car in its standard guise. Right out of the box, the SLS AMG is loud, frenetic, cozy, boisterous and frightfully easy to oversteer. How much more Black did it need to get?
Quite a bit so, apparently. The SLS AMG Black Series has lost weight, gained power and been refitted with upgrades and aero bits from front to rear. If you liked the way it looked before, you'll probably be an even bigger fan of this one. If you thought it looked ungainly, well, this one should stay even further away from pageants. Regardless of where you come down this is the best SLS AMG variant we've driven.