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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 planning hybrid hypercar?

It used to be that, a few overlapping two-door models aside, Mercedes-Benz and Porsche didn't really compete with one another. That's how the two ended up collaborating on projects like the Mercedes 500 E that put it on the performance sedan map without fear of stepping on each other's toes. But Porsche has grown considerably since then, challenging its Stuttgart neighbor with four-door sedans and crossovers, as well as sports coupes and convertibles. Little wonder, then, that Mercedes has hit back at Porsche with the AMG GT, and there will be many more versions to follow in 911 style. But that may not be the final salvo the Silver Star marque launches at Zuffenhausen. According to the latest bit of speculation and deduction from our friends at Motor Trend, Mercedes-AMG may be planning a hybrid hypercar of its own to take on the Porsche 918 Spyder – not to mention the McLaren P1 and LaFerrari. Solid information is sparse at this point, but after speaking to AMG chief Tobias Moers, MT speculates that the new flagship will likely be mid-engined, with a boosted version of the company's 4.0-liter twin-turbo V8 kicking out between 650 and 700 horsepower, working with a pair of electric motors at the front to deliver tenacious through-the-road all-wheel traction and a combined output in the thousand-horsepower range. There is the possibility, though, that Mercedes could go after the latest hybrid hypercars with a flagship version of its just-launched AMG GT, packing a similar powertrain setup as the ultimate evolution of the breed. Other GT versions will likely soon include a GT3 racing model, a Black Series version and a roadster – following a similar path taken not only by the 911, but also by Benz's previous halo supercars like the SLR McLaren and SLS AMG.

2017 Infiniti QX30 price anounced ahead of September launch

The 2017 Infiniti QX30 will start at $30,945 for the base model and will max out at $39,495 for the Sport trim. The oversized hatchback will be available in six different trims: the QX30, QX30 Luxury, QX30 Premium, QX30 Sport, QX30 Luxury AWD, and QX30 Premium AWD. There will also be a 2017 QX30 Reservation Program for buyers interested in getting their hands on the car first. Buyers in the program will be able to choose from a selection of gifts to go along with their new QX30. The QX30 Luxury starts at $33,595, while its AWD variant is $1,800 more. The QX30 Sport, which is front-wheel drive only and is 0.6 inches lower than the rest of the lineup, is priced at $39,495. The QX30 Premium will start at $36,295 with the QX30 Premium AWD commanding an additional $2,400. All trims are powered by a 2.0-liter turbocharged inline-four that puts out 208 hp and sends power to a seven-speed dual-clutch gearbox. While the QX30 borrows a lot of components from the Mercedes-Benz GLA-Class, it's priced lower than its German counterpart. The Mercedes GLA250 starts at $33,775, while the GLA250 4Matic is priced at $34,775. The QX30 also comes in under the Acura RDX ($36,510), BMW X1 ($34,095), Audi Q3 ($34,625), and the larger Lexus NX 200t ($35,915). The QX30 will hit showroom floors in September.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Infiniti QX30 View 19 Photos News Source: InfinitiImage Credit: Infiniti Infiniti Mercedes-Benz Crossover Hatchback Luxury infiniti qx30