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Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.

Volvo shows inflatable child seat concept [w/video]

Volvo is bringing its emphasis on safety and design to the littlest members of the family with its concept for an inflatable, rearward facing child safety seat. The design is meant to help traveling families by offering a lighter and less bulky alternative to traditional car seats.
The design is quite ingenious. The seat is covered in drop-stitched fabric, which fills with air to create the form of the seat. An electric motor in it allows inflation and deflation in less than 40 seconds, according to Volvo. It weighs less than 5 kilograms (11 pounds) and folds small enough when collapsed to fit into a bag. It even has a Bluetooth connection, so parents can begin expanding it remotely.
The inflatable seat in the brainchild of Lawrence Abele, Volvo's design manager at its Monitoring and Concept Center in Los Angeles, CA. "For many, travelling with young children is a challenge; any assistance to simplify the parents' life with young children is a great thing," he said in a statement released by Volvo. The chair remains a concept for now, and the automaker isn't saying whether it's going to put it into production, but it's a clever solution to a common problem. Scroll down for a video showing it in action and to read the release.

2020 Volvo XC90 Inscription Interior Driveway Test | A lesson in minimalist luxury

We tend to love Volvo interiors. They’re beautiful, simple, inviting and a relaxing place to spend time in. Designers needed to get it right, too, because Volvo has applied the same styling and design language to every vehicle in its lineup. WeÂ’re focusing on the flagship today: the 2020 Volvo XC90 T8 Inscription. Since our tester is the Inscription trim, that means itÂ’s the most luxurious version of the bunch (Momentum and R-Line are the two others). Some highlights include perforated Nappa leather seats, a “tailored dashboard,” Gray Ash Wood trim inlays and the Orrefors crystal shift knob.  Our car had the Charcoal interior scheme to play along nicely with the trim. The contrast between the light wood trim and gray stitching with the black leather is pleasing to the eye. Volvo uses a gratuitous but not overwhelming amount of piano black trim to bring some shine to the interior. ItÂ’s nice to see and touch on the buttons, but gets dirty quickly around the flat gear lever area where dust tends to collect. Much of the dash is left blank in a nod to minimalism. WeÂ’re left with a large nine-inch touchscreen oriented vertically in the center, just like every other Volvo on sale today. This is flanked by the center air vents. ThereÂ’s little to no styling going on with the vents, which seems like a missed opportunity. Regardless, we dig the layered and nicely-stitched dash that comes with the Inscription model. Also nestled into the dash is this crossoverÂ’s 12.3-inch digital instrument cluster. ItÂ’s basic in its visuals, but plenty effective at conveying important car information. We like the more vibrant and customizable clusters from Mercedes-Benz and Audi a lot, but this one gets the job done and it isnÂ’t distracting in the least bit. Volvo has your back when it comes to comfort. Our tester has the Luxury Package, so itÂ’s equipped with massaging front seats, heated rear seats and a heated steering wheel. Additionally, Volvo finishes the headliner in Nubuck, and the grab handles and visors get leather. Unlike everybody else, Volvo allows you to choose between three levels of heat for the steering wheel. ItÂ’s noticeable to our hands, and is great when you want to add a little heat into your fingers without being scalded. As for the massage, itÂ’s backrest only. We wish it was back and bottom, but at least the programs available for your back are soothing.