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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

Autoblog Podcast #404

Episode #404 of the Autoblog Podcast is here, and this week, Dan Roth, Chris Paukert and Brandon Turkus talk about the BMW i8 and i3, this week's SEMA show, the looming Ferrari spin-off and the passing of Tom Magliozzi, longtime co-host of NPR's Car Talk. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #404: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: BMW i8 and i3 SEMA Ferrari to be spun off Tom Magliozzi of Car Talk passes away In The Autoblog Garage: 2015 Mercedes-Benz GLA45 AMG 2015 Mercedes-Benz C300 4Matic 2015 Ford Mustang GT Hosts: Dan Roth, Chris Paukert, Brandon Turkus Runtime: 01:54:34 Rundown: Intro & Garage - 00:00 BMW i8 and i3 - 36:18 SEMA - 01:00:53 Ferrari IPO - 01:12:44 Tom Magliozzi - 01:21:12 Q&A - 01:32:45 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Auto News Celebrities Earnings/Financials Podcasts SEMA Show BMW Ferrari Ford Mercedes-Benz SEMA 2014 mercedes gla45 amg

2014 Mercedes-Benz S500 Plug-in Hybrid for fat cats frugal with fuel

Judging by how long we waited to get a clear shot of the Mercedes-Benz S500 Plug-in Hybrid, you'd have thought hybrid cars were only driven by Terminators and that the technology arrived only 48 hours ago through a wormhole in the Mercedes stand. The newest member of the Mercedes-Benz S-Class hybrid band - joining the S400 Hybrid and S350 BlueTEC Hybrid, it hits notes like a 5.5-second sprint from standstill to 62 miles per hour, up to 19 miles of ion-powered running and uses three liters of gasoline per 100 kilometers in Europe (78.41 mpg US, but our mpg test cycle is different than their mpg test cycle).
The lump up front is a turbocharged, 3.0-liter V6, the lump in back - note the reduction in trunk space - is a pack of lithium-ion batteries that juice an 80-kilowatt electric motor. Other than having four drive options for controlling electric drive and battery usage, it's all S-Class all the time, with leather-covered everything and those mountainous thrones that bring to mind words like "Archduke" and "Papal."
You'll find our hard-earned gallery from the Frankfurt Motor Show floor above, and more words of information in the press release below.