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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.

Race recap: 2016 Hungarian Grand Prix was the pits

The Hungarian Grand Prix hasn't seen a race this calculated since 2012, when Lewis Hamilton – driving for McLaren – led from pole position to the checkered flag. We don't expect massive action from the Hungaroring, but Hamilton's first win for Mercedes in 2013, the thrilling wet mess in 2014, and Ferrari's surprising dominance in 2015 made us hope for more on-track commotion this year. Hungary denied us that. Hamilton parked his Mercedes-AMG Petronas in second on the grid but stole the lead through Turn 1 and never looked back. Teammate Nico Rosberg yo-yoed behind him in second place, getting into DRS range on a few occasions but never close enough to pass. Red Bull's Daniel Ricciardo kept the leading duo honest, but the Aussie couldn't put genuine fear into the German team and finished third. This is the third year in a row for Ricciardo on the Hungary podium. The pits provided our few scraps of excitement. During a stretch when Ricciardo managed to close on Rosberg, Mercedes told Hamilton to speed up. When Hamilton said he couldn't go faster, Mercedes said they'd pit second-place Rosberg first instead. Suddenly, Hamilton found the extra pace. Ricciardo pitted in early, hoping that fresh tires and fast laps could allow him to pass one or both Mercedes drivers when they pitted, but once Hamilton hit the throttle the Red Bull couldn't respond. Further down the lineup, Jenson Button came in on Lap 5 so McLaren could fix his brake pedal problem. The radio exchange before the stop included one forbidden instruction to Button, though, so the Englishman had to return to the pits for a drive-through penalty. Renault's Jolyon Palmer beat Force India's Nico Hulkenberg in a straight-up pit stop battle on Lap 40, but threw the good work away on Lap 49 with a spin on track that cost him three places. A pit wall miscommunication meant the Force India pit crew wasn't ready for Sergio Perez when the Mexican arrived for his second stop on Lap 43. And Daniel Kvyat's regrettable run at Toro Rosso continued, first with car issues, then a drive-through penalty for speeding in the pit lane. Sebastian Vettel brought his Ferrari home fourth, sniffing Ricciardo's gearbox at the flag but unable to get around the Red Bull. Max Verstappen enacted a replay of the final stages of the Spanish Grand Prix, finishing fifth by holding Ferrari's Kimi Raikkonen behind for 19 laps.

Brabus tunes Mercedes-AMG GT up to 600 horsepower

"You can never have enough power," says Brabus in the statement below, "especially in a sports car." Hence the beast you see here. It's based, as you can plainly see, on the Mercedes-AMG GT. But instead of 469 horsepower in the base model or 503 in S spec, Brabus has boosted it up to 600 metric horsepower. That works out to 591 hp by our standards, a figure backed up by an equally impressive 553 pound-feet of torque – up from 443 or 479. With all that power and twist, the Benz tuner of record says its take on the GT will top out at an autobahn-crunching 201 miles per hour, reaching 62 along the way in 3.6 seconds. Of course, Brabus didn't just tinker with the engine and leave the rest alone. It'll build customer vehicles to individual requirements, but has outfitted this demo vehicle with a full aero kit (in clear carbon fiber), monoblock alloys (20 inches up front, 21 at the back), a retuned suspension dropped by 0.6 inches, and a fully refitted interior. We'll be keeping an eye out for the Brabus GT at the Frankfurt Motor Show this week, but judging from the photos above, it would be hard to miss. Related Video: World premiere at the IAA 2015 BRABUS refines the Mercedes-AMG GT S 441 kW / 600 HP, 750 Nm of torque, a top speed of 325 km/h, carbon components and 21-inch high-tech forged wheels Lending an exclusive car an even more thrilling appearance has been the domain of BRABUS (Brabus-Allee, D-46240 Bottrop, phone + 49 (0) 2041 / 777-0, fax + 49 / (0) 2041 / 777 111, Internet www.brabus.com) for almost four decades. At the IAA 2015 in Frankfurt am Main, the exclusive sports program for the Mercedes-AMG GT and GT S models celebrates its world premiere. With an output increase to 441 kW / 600 HP (591 bhp) and a peak torque of 750 Nm (553 lb-ft), the two-seat car reaches a top speed of 325 km/h (201 mph). From the outside, the sports car with BRABUS design impresses with aerodynamic-enhancement components made from clear-coated carbon, ultra-light BRABUS Monoblock F forged wheels, a sports suspension with a multitude of selectable settings for damping and ride height, and a sports exhaust system made from especially lightweight titanium with electronically controlled sound management. BRABUS fine leather interiors and inlays made from real carbon and precious wood upgrade the cockpit of the two-door car. You can never have enough power, especially in a sports car.