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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.

BMW can't build enough M3 wagons, but the U.S. won't see any

Why, oh why, won’t the automobile companies that supposedly cater to Americans give us a viable touring wagon? Seems that BMW is one manufacturer thatÂ’s aware of the question, but skirts the answer. WhatÂ’s more frustrating is that the German company, and others, have for years been off-handedly tossing out the same refrain: “Maybe weÂ’ll bring a wagon back to the U.S.” Not. All the more irritating then is the news that the Bavarians have increased production in Munich of its M3 Touring longroof version to keep up with demand. The information comes via Bimmer Today, which spoke with BMW M CEO Frank van Meel. He said that the company was surprised by the amount of interest in the M3 Touring since its debut during last year's Goodwood Festival of Speed. In fact, he said, the company had to facilitate a production ramp-up within its Munich facility. Despite that increased production, the backlog of orders means that customers are still on wait lists, he said. Last year, van Peel admitted that demand for M-wagons in the U.S. has been steadily increasing, and exporting a touring example was a concept BMW was "taking into consideration.” Crossovers certainly are this decadeÂ’s version of the wagon, which leaves American enthusiasts will few choices: only expensive versions from Audi, Volvo and Mercedes-Benz and a couple of others. Details that were announced last year — a few months before the wagon went into production for sale in Europe, the U.K. and elsewhere — noted that the M3 Touring was only available in Competition spec with xDrive all-wheel drive and a 3.0-liter twin-turbo inline-six with 503 horsepower and 479 pound-feet of torque. Pricing started at GBP80,550 ($105,000 U.S.) More data on the M3Â’s intro here. Related video:

Mercedes was set to sell version of Nissan Titan, now Infiniti might instead

Mercedes-Benz Titan. Mercedes-Benz Frontier. Mercedes-Benz pickup truck. None of these things roll off the tongue particularly well. We'd like to think that's the reason Daimler opted to kill the idea of rebadged Titan and Frontier pickups from corporate ally Nissan. In reality, the execution before the Frankfurt Motor Show was due to more complicated issues.
Yes, Mercedes, byword for German luxury, style and quality, would have slapped a three-pointed star on a pair of Japanese pickup trucks that have failed to resonate with consumers in the world's largest truck market. That slapping of badges isn't much of an exaggeration, at least on the outside. According to the report from Road & Track, the truck's front clip would have been tweaked, but beyond that, the sheetmetal would have been unchanged. The interior would have received a more thorough going-over by the team at Mercedes, while the suspension and noise, vibration and harshness tuning would have also received significant attention.
The trucks would have ended up being sold through the light-commercial branch of Mercedes-Benz - the same folks that will happily sell you a Sprinter van - had the deal gone through. Issues arose, though, first with the engines. Mercedes wanted a wider range of powertrains to allow it to tune models for specific markets, while Nissan said it couldn't engineer the wide variety of engines that MB wanted to drop under the hood. For the smaller truck, meanwhile, MB was interested in a hybrid or plug-in variant, according to R&T, although this was also shot down by Nissan.