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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 GLE Coupe to feature in Jurassic World

It was back in 1997 that Mercedes first got into the crossover game with the launch of the M-Class, and most of us got our first look at the luxury high-rider when it debuted on the big screen in the Jurassic Park sequel The Lost World. It's been 18 years since that event, but now its successor is set to appear in the revival of the once-popular movie franchise. Come June 12, moviegoers will be able to catch the new Jurassic World film at their local theaters, but the dinosaurs will have to share the spotlight with the new GLE Coupe. The slant-roofed crossover that'll share its underpinnings with the M-Class' successor and challenge the BMW X6, will appear in the film in GLE 450 AMG Sport guise, and Universal Studios apparently did a good enough job keeping the Mercedes under wraps during filming until its release just a month ago. Mercedes Continues Its Decades Long Relationship with Universal: Mercedes-Benz GLE Coupe launches in Universal Pictures' Jurassic World Stuttgart, Jan 08, 2015 Stuttgart. On-screen, multiple Mercedes-Benz vehicles are once again in on the Jurassic action. Twenty-two years since the events of the original film, Steven Spielberg returns to executive produce the long-awaited next installment of his groundbreaking Jurassic Park series, Jurassic World. During their adventures in the jungles of Jurassic World, the characters played by Chris Pratt and Bryce Dallas Howard put their trust in the off-road capabilities of various Mercedes-Benz vehicles – especially in the all-new GLE Coupe, which appears in its series-look for the first time. Colin Trevorrow directs the epic action-adventure from a screenplay he wrote with Derek Connolly. Frank Marshall and Patrick Crowley join the team as producers. Jurassic World will be released in 3D by Universal Pictures on June 12, 2015. The partnership continues the relationship between Universal and Mercedes-Benz, first forged in 1997's The Lost World: Jurassic Park, when Mercedes introduced the M-Class vehicle. "We are delighted to have been able to support this epic action-adventure with our vehicles," said Dr. Jens Thiemer, Head of Marketing Communications for Mercedes-Benz Cars. "Our wide range of SUVs in particular fit perfectly with Jurassic World's various requirements, with the focus on our new trendsetter, the GLE Coupe." Above all, it is the new GLE Coupe that shows off its best side.

2016 Canadian Grand Prix: A tale of 3 starts and 2 stops

The first curve in the Canadian Formula 1 Grand Prix happened before Turn 1. Lewis Hamilton sat on pole in the Mercedes-AMG Petronas, Sebastian Vettel in a Ferrari behind. That order changed as soon as the lights went out. Hamilton and teammate Nico Rosberg started well enough, but Vettel flew off the line, passing Hamilton in just a few meters. Vettel led through Turn 1 while Hamilton defended against Rosberg trying to pass on the outside by using the entire track. Hamilton bumped his teammate, sending Rosberg into the concrete runoff with an " infuriating but fair" maneuver Hamilton blamed on understeer. The Brit stayed second, his teammate fell to ninth by the time he rejoined the circuit and got back on the gas. The Ferrari finally looked an even match for the Mercedes, Vettel slowly building a gap out front. On Lap 11 the Honda in Jenson Button's McLaren self-ignited just after the hairpin, forcing Button to pull over on the Casino Straight. A Virtual Safety Car slowed the field, convincing Ferrari to pit its drivers. Vettel came in, handing the lead to Hamilton. The marshals cleared Button's car more quickly than expected, so the scuderia didn't get the full time advantage it expected, sending Vettel back on track seven seconds behind the Mercedes. Button's and Ferrari's unplanned stops decided the race. Ferrari had always planned to run a two-stopper, but the early pit didn't give the team a chance to gauge the ultra-soft Pirelli. The ultra-softs lasted longer than anyone expected. Hamilton only pitted once, Vettel had to pit again, and the Ferrari simply couldn't close the gap to the Mercedes even with newer tires. Post-race commentary accused Ferrari of two blunders: giving up track position, and not taking advantage of Mercedes' only known weakness of not being nearly as good in dirty air. If the ultra-softs had fallen off a performance cliff, however, Ferrari's play would have been considered daring and brilliant. Hamilton took his second win of the season, followed by a hard-driving Vettel five seconds later. Valtteri Bottas and Williams got everything right, the Finn taking advantage of a one-stop strategy, a perfectly-timed pit stop, and more unusual Red Bull issues to finish third. It's Williams' first podium of the year. Max Verstappen claimed fourth after two pit stops, holding off a frustrated Rosberg who had to make an unscheduled stop to remedy a slow puncture.