1976 Mbz 300d 4 Dr Has Rebuilt Engine W/less Than 1000 Miles. A Project Vehicle on 2040-cars

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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.

Drive visits a Mercedes Pagoda collector in Bangkok

The term "icon" gets thrown around a lot, but if there was ever an automobile that deserved the honorific, certainly the Mercedes SL is one of them. Now in its sixth generation, the SL has been the prototypical German roadster since the 1950s. A sports car with that long a history will inevitably attract a great many collectors, but with values of first-generation 300 SLs and 190 SLs skyrocketing, those enthusiasts without bottomless pockets are turning in growing numbers to the second generation. Known as the Pagoda due to the design of its removable hardtop, the W113-generation SL arrived in 1963 and stayed in production until 1971. By that point Mercedes had built nearly 50,000 of them, selling over 19,000 of those in the United States alone. Through three engine variants – dubbed 230, 250 and 250 SL – and numerous body-styles, all featured an inline-six, transmitting to the road through manual or automatic transmissions with four or five gears. More of a cruiser, then, that an outright sports car, but one that warrants its place in the history of the automobile. In this latest episode, Drive travels to Bangkok to profile a local enthusiast and collector. That's a rather difficult undertaking in Thailand, where it's illegal to import old cars, but Sittisan Quan Sundaravej rises to the challenge, locating classics together with like-minded local enthusiasts. The heart of his collection, though, isn't one he acquired, but rather inherited from his late father. That's the kind of provenance you can't buy.

Automotive News Recap for the week of 9.2.16 | Autoblog Minute

A look back at the week in automotive news, including spy shots of the next-gen Mercedes-Benz GLE SUV, and a look at the 2017 Jeep Grand Cherokee Trailhawk that is soon to hit dealers in the United States. Jeep Mercedes-Benz Autoblog Minute Videos Original Video mercedes-benz gle trailhawk