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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.

Volvo XC90 Coasting Transmission Deep Dive | How, when and why of coasting

In our recent 2021 Volvo XC90 Recharge review, its turbocharged-supercharged-hybridized powertrain delivered impressive horsepower and fuel economy. But Volvo has one additional trick up its sleeve, propelling a car with power that's simpler, cheaper and all-natural: It's the power of momentum and gravity. I've always been halfway to a hypermiler. I'm not obsessive about it, but in city driving, I enjoy timing stoplight approaches to keep the wheels rolling and avoid the inertia of restarting from a stop. There's little point to needlessly racing and braking between red lights, wasting kinetic energy (and therefore fuel). So I tend to drive strategically instead, often catching up with the drivers who jackrabbit but get hung up at the lights. And, back when I owned a long line of vehicles with manual transmissions, I coasted. Coasting used to be slightly controversial. Some claimed it doesn't actually save gas, though my mileage calculations showed otherwise. Another school of thought insisted that removing engine braking from the equation, even momentarily, constitutes a dangerous loss of control. Of course, an experienced driver can slip a manual transmission back into gear in a flash when engine braking's actually needed. And one should always use some common sense and judgment about when and where to coast. I'm not talking about careening down a 15% grade into a school zone.  Anyway, those arguments became moot when automatic transmissions pretty much took over. (And no, never coast with a typical automatic transmission. Even if it weren't damaging to your type of automatic — but assume that it is — the risk of screwing up a nudge of the shifter from drive into neutral is too great.) XC90 Recharge 8 View 18 Photos But happily, some automakers in recent years have added a coasting feature to their automatics, with the aim of eking out more fuel efficiency. Volvo calls the feature on its Aisin eight-speed "Eco Coast." Some Mercedes, BMWs and others call it "sailing" or "gliding." The Hyundai Ioniq, Ford Mustang Mach-E and Polestar 2 are among EVs that allow you to cancel out all regeneration and freewheel downhill. And future cars such as the BMW iX are also being designed to do it. By building coasting into the clockworks, automakers have taken any traffic safety concerns out of the question, because the car will instantly switch you back into gear when needed.

2015 Volvo XC90 mule spotted testing in the snow

The Volvo XC90 was a big step for the Swedish automaker in 2003, but the midsize crossover has changed very little since its introduction. All that's about to change as Volvo starts its initial development on the 2015 XC90, which we see for the first time in these spy shots showing a cobbled-together XC70.
Like the current XC90, the next-generation model will be both longer and wider than the XC70 - judging by the modifications made to this mule's body - which will continue to allow Volvo's flagship crossover and provide three rows of seating. The next XC90 will ride on a new platform that will eventually make up around two-thirds of all Volvo sales, called the Scalable Product Architecture (SPA).
Our shooter managed to find out the registration number for this mule, which indicated that it was powered by a five-cylinder diesel, but we expect the automaker to start stepping away from its current powertrains with a big push toward smaller engines courtesy of the new Volvo Engine Architecture (VEA). Rumor has it that the future engine lineup for the XC90 will rely heavily on turbocharged four-cylinder engines and eight-speed automatic transmissions, which will likely eliminate or lessen some of the current mills available like a straight-six or V8.