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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.

Volvo launches XC90 configurator site

In many ways the 2016 Volvo XC90 defines the future of the Swedish brand. The SUV is the introduction of the company's Scalable Product Architecture modular platform that should underpin most of its future models. It's also the first big chance to see whether consumers accept a model like this that's only available with four-cylinder power, granted a mill that is both turbocharged and supercharged. The configurator for this Swedish hopeful is just hitting the Web giving customers a chance to see what they think.
The only available powertrain on the XC90 at the moment is the 2.0-liter Drive-E with 316 horsepower and 295 pound-feet of torque, an eight-speed automatic transmission and all-wheel drive. The base price starts at $48,900, plus $925 for destination, but that number can balloon quite quickly. Upgrading to the R-Design package tacks on $4,000 or the even plusher Inscription package adds $5,600.
Furthermore, there are several option packages to add some extra tech and comfort to the SUV. The Vision Package with a backup cam is an extra $1,600, two versions of the Climate package to keep occupants warm come to $1,050 and $1,950, respectively, and the Convenience Package that includes adaptive cruise control adds $2,000. Depending on trim, there are up to 13 colors available in an attractive variety, although all but two add $550 to the price. There are also a wide variety of leather upholsteries to choose from.

Recharge Wrap-up: 10-year sentence for biodiesel fraudsters, overhead fast charging EV buses in Luxembourg

Toyota will use addressable TV advertising to target potential Prius Prime customers. By choosing to advertise in households with specific attributes, Toyota hopes to grab the attention of buyers who "see their vehicle as an extension of their consumption of advanced technology," according to Toyota Motors Sales media manager Lisa McQueen. The ad depicts a person who is skeptical of various inventions throughout history until he finds himself inside the Prius Prime. Hyundai has also used addressable TV ads for its Genesis brand. Read more at Automotive News. Two Florida men have each been sentenced to over 10 years in prison for biodiesel credit fraud. Thomas Davanzo and Robert Fedyna of Gen-X Energy Group and its subsidiary Southern Resources and Commodities were convicted of buying fuel that had already been sold with Renewable Identification Numbers, then fraudulently claiming more credits on that fuel. The scheme raked in more than $46 million, mostly in selling the fraudulent credits. Critics of the Renewable Fuel Standard point to incidents like this as a reason to oppose the program. Read more from Reuters. Volvo electric buses in Luxembourg will use Heliox Fast Charge systems. Public transport operator Sales-Lentz has ordered three of the Heliox systems that will charge the buses using pantograph (overhead wire) contacts. The chargers will be placed at end-of-route stops for opportunistic charging of the transport agency's four Volvo 7900 electric buses. The 450-kW, Wi-Fi-enabled OppCharge system automatically connects the charger to contact plates on the roofs of the vehicles, charging them in three to six minutes. Read more at Green Car Congress. Related Gallery 2017 Toyota Prius Prime Advanced View 35 Photos News Source: Automotive News, Reuters, Green Car CongressImage Credit: Volvo Buses Government/Legal Green Marketing/Advertising Toyota Volvo Biodiesel Technology Electric recharge wrapup