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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.

New Mercedes-Maybach concept set to debut at 2018 Beijing Motor Show

Mercedes-Maybach builds some of the most kitted out and opulent production cars in the world. Think of the Maybach S 560 and S 650 as a Mercedes S-Class taken to the next level of luxury. Today, Mercedes-Maybach revealed a new teaser for what looks like a concept for a new EV. The car is set to debut in just a few weeks at the 2018 Beijing Motor Show. This might be the Maybach SUV we reported on a few weeks back. It's difficult to make out too many details, but it definitely looks different than the Vision Mercedes-Maybach 6 that we've seen floating around for the past couple of years. A close-up shot of the steering wheel shows the soft blue glow that Mercedes has put on the EQ-branded concept cars. Other images show clean white leather, rose gold trim and a pair of seats flanking a flower-encrusted panel. All the shots appear to be of the concept's interior, so we can't say for sure that this is the rumored Maybach SUV. Either way, it's sure to be just as luxurious and formidable as anything the automaker currently has on the road. We're hoping they come up with another G-Class Landaulet. Related Video: News Source: Facebook: Mercedes-Benz Design/Style Green Beijing Motor Show Maybach Mercedes-Benz SUV Concept Cars Electric Luxury Videos mercedes-maybach

Daimler: 2017 the right time to launch our hydrogen fuel-cell vehicle

Zero-emissions vehicle development has never focused purely on off-the-line acceleration. So when a research executive with Mercedes-Benz parent Daimler says it's Okay that companies like Toyota and Hyundai will have a head start selling hydrogen fuel-cell vehicle, it's somewhat believable. But is Daimler really fine with being two years behind? It appears so. Daimler plans on debuting its first fuel-cell vehicle in 2017, Automotive News says, citing an interview Automobilwoche had with Daimler's corporate research chief Herbert Kohler. The German automaker estimated about a decade ago that it would be able to get fuel-cell production costs down to an "acceptable" level in 2012, but it turns out that estimate was about five years too aggressive. Daimler originally started leasing out a limited number of its F-Cell hydrogen vehicles in the US for $849 a month, though later brought that down to $599 a month. Daimler says it received a boost in its effort to accelerate fuel-cell powertrain development when it reached an agreement early last year with Nissan and Ford to work together on speeding up relevant powertrain technology. While Toyota's first fuel-cell vehicle in Japan is priced at almost $70,000 (before big government incentives kick in), Kohler says Daimler's first fuel-cell vehicle will be priced similar to a hybrid vehicle. Of course, that's a Mercedes-Benz hybrid we're talking about here, but still. Related Gallery Mercedes-Benz F-Cell View 9 Photos News Source: Automotive News - sub. req. Green Mercedes-Benz Hydrogen Cars h2