2007 Sl55 Amg 5.4l V8 24v Automatic Rwd Convertible on 2040-cars

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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Leno shows off his current project cars

When your car collection grows to the enormous size of Jay Leno's, adding the usual muscle cars or European exotics loses the allure. It becomes necessary to start taking the things in weird directions. Leno is proving just that with his latest tour of many of the ongoing projects currently happening in the garage. With everything from Harley-Davidson generators to '50s hot rods on display just in this short video, there's something any fan can love. The place is like an automotive wonderland. For most people any one of these projects would be an absolute dream. For example, Leno has a copy of a one-off Mercedes-Benz racecar transporter that is nearly ready to drive. Another project hasn't even started yet but already seriously piqued our interest. Leno obtained a very ratty 1966 Volvo 122S wagon, but rather than just a restoration he's has a plan to get a V8 with a flat-plane crank from Volvo performance specialists Polestar. Another project on the way should provide a significant upgrade in performance, while still being quite green. Leno's team has already rebuilt the frame and wooden body from a 1914 Detroit Electric, and with that work done they've started dreaming of a modern drivetrain for it. One proposed candidate for the swap has been to install motor from a Nissan Leaf and a bank of lithium-ion batteries. News Source: Jay Leno's Garage via YouTube Aftermarket Celebrities Mercedes-Benz Volvo Electric Performance Classics Videos Jay Lenos Garage detroit electric

Meet Buster, this 1968 Porsche racecar transporter from Mercedes

If you're thinking about Porsche and Mercedes-Benz when it comes to motorsports, your first thought is probably on the two German brands battling on the track. However, for decades, whenever Porsche's factory team went to compete, a custom Mercedes was right along with them hauling the racecars. These days the truck lives in the Brumos Collection in Jacksonville, FL, and goes by the nickname Buster. However, its story goes back to 1968 when Porsche ordered two commercial vehicles from Mercedes and then handed them over to a Stuttgart-based outfitter for customization. The results were these racing transporters that hauled models like the 917 and 956 until the '80s. The other survived, too, with a place in Porsche's collection. Well-known racers in their own right, Brumos scooped up the transporter in 2003 and have kept driving it to vintage racing events. The interior now boasts the signatures of many of the great drivers from the era of this historic truck. Watch the video for the whole story on the Mercedes with a whole lot of Porsche inside.