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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.

Mercedes making aggressive plans for Chinese market

Mercedes-Benz is preparing a major product offensive to counteract lagging sales in the Chinese market, aiming 20 new or updated models at the People's Republic in the next two years, according to a report by Reuters. The plan is part of MB's so-called 2020 Initiative, which will see the Stuttgart-based manufacturer dump 2 billion Euros ($2.67 billion) into its Chinese market vehicles in a bid to boost sales to 300,000 units by 2015.
Were it to succeed, China would become the largest market for the Silver Arrow, outpacing Germany and the United States. Leading the charge will be the redesigned E-Class, which is set to launch in China this week. That will quickly be followed by the S-Class, and eventually by the GLA-Class in 2014.
Mercedes has struggled in China, especially relative to its German competition, BMW and Audi. Where Mercedes saw a mere four-percent increase in 2012 sales to 206,150 units, Audi was up a staggering 32 percent, while BMW's numbers jumped 41 percent. While some voices, according to Reuters, accuse Munich and Ingolstadt of boosting their numbers through hefty incentives, the fact remains that Mercedes was just walloped by its competitors last year.

Mercedes-Maybach rolls out new S, GLS and EQS SUV Night Series

Mercedes-Maybach is embracing a new look for what it hopes will be a new generation of buyers — one keen to embrace its new electrified luxury models. The new Night Series will be offered on all three models in the current Maybach lineup, with the S-Class and EQS SUV variants arriving later this year and the GLS following in early 2024. While the execution off each Night Series is dependent on the model in question, they share a few common elements. Their headlights, for instance, are all embellished with dark chrome Maybach logos on rose gold trim. You'll find that dark chrome just about anywhere you'd normally spot bling, from the grille and exterior trim to the coating on the rear exhaust finishers. And then there are those wheels. I don't know what to say, quite honestly. Just look at them. And while you're at it, peep at the running boards on the EQS SUV.  While the cars shown here are quite uniform, differentiation will come in the form of finish choices and further individual customization. All three are offered with the Obsidian Black/Mojave Silver two-tone combination shown here. The EQS SUV will also be available in Obsidian Black and Manufaktur Diamond White finishes, the S-Class can be done up in various grey, black and white hues, and the GLS can be had in white or Obsidian Black.  Inside you'll find herringbone-patterned, open-pore wood with aluminum accents along with another smattering of dark chrome. The EQS SUV and GLS can optioned with with Nappa leather in two-tone Crystal White/Black Pearl or just plain Black Pearl. In the S-Class, you can do Nappa leather in either Deep White/Black Pearl or straight Black Pearl.  Look for more on the Mercedes-Maybach S-Class and EQS SUV Night Series soon, with more to come on the GLS variant as its arrival draws closer.  Related video: 2022 Mercedes-Maybach S 580 walkaround