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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.

Mercedes C-Class coupe spied undisguised

The closer that it gets to an official unveiling, the more camouflage the Mercedes-Benz C-Class coupe is stripping off. These latest spy shots show the two-door with a largely undisguised front end, but the rear is still concealed. In general, the C-Class coupe looks quite similar to its four-door counterpart, but the two-door wears some unique parts to make it appear a little sportier. As with the previously spied example, the designers move the side mirrors to the doors, instead of the corner of the A-pillars, and there's a single-bar grille up front. Despite the camouflage, these shots give a clear view of the model's sleeker silhouette, as well. At the rear, you can also spy the narrower, wraparound taillights to replace the squarish units on the sedan. Mercedes will reportedly debut this longer, lower take on the C-Class model line at the Frankfurt Motor Show in September, and sales in Europe will reportedly begin in December. This isn't the last variant to come along, though. Spy shots already show an AMG version of the coupe and a convertible under development. Related Video:

Valtteri Bottas on pole for Formula One's 1,000th race

Valtteri Bottas will start Formula One's 1,000th world championship race from pole position after leading Mercedes team mate Lewis Hamilton in a front row lockout at the Chinese Grand Prix on Saturday. Ferrari's Sebastian Vettel qualified third, ahead of 21-year-old Monegasque team mate Charles Leclerc who was unable to repeat his Bahrain Grand Prix pole of two weeks ago. Bottas, who won the season opener in Australia and leads defending champion Hamilton by one point in the standings, was the third different driver to take pole this season in three races. "The lap was OK, not completely how I wanted. Luckily it was good enough for pole," smiled the Finn, who pipped Hamilton by 0.023 seconds after setting a best time of one minute 31.547. "Lewis also managed to improve a lot during the qualifying and it was super-close." The pole was a first for Bottas since Russia last September and the seventh of his career. It was also his first in China where Mercedes have won five of the last seven races. Hamilton sounded happy just to be on the front row, despite six previous poles in Shanghai, after looking out of sorts in practice. "I didn't give up, I kept pushing right to the end. Big congratulations to Valtteri, he's been stellar all weekend and I've been struggling and fighting the car," said the Briton. "To be as close as we are at the end is fantastic. An incredible result for the team. There was a little bit more time left on the table there but that's cool, I'll try and get it tomorrow," added Hamilton. UNHAPPY VERSTAPPEN Ferrari had arrived in China as favorites after showing their speed in Bahrain, particularly on the straights, with Leclerc on pole and leading until a loss of engine power in the closing laps. While unable to match the quick-cornering Mercedes cars for overall pace in Shanghai, Vettel hoped to be closer on Sunday thanks to the track's main straight being more than a kilometer long. "I think there was maybe a little bit more but overall not enough to beat these guys today," said the 31-year-old German, a four times world champion. "If we get close we could have an advantage in a straight line." The top 10 positions went two-by-two in team order, with Red Bull's Max Verstappen and Pierre Gasly fifth and sixth and ahead of the Renault pair of Daniel Ricciardo and Nico Hulkenberg – the Australian just 0.004 ahead of the German.