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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

Next Mercedes-Benz GLK to get AMG variant? Not likely...

If you think Mercedes-Benz will slap an AMG badge on anything with wheels, think again. Word has it the German manufacturer will not offer buyers a performance version of the GLK, with Tobias Moers, director of AMG vehicle development, saying that he doesn't see a market for the car. That's not to say the picture won't change in the near future, however. According to CarAdvice.com, AMG is keeping a close eye on the arrival of the Porsche Macan.
"Maybe there will be a change in the market when the Porsche [Macan] comes up," Moers said, "but right now, no."
The real hitch in the giddy-up seems to be cost. Moers says developing the machine into something worthy of an AMG would represent "a huge investment." We can't exactly argue with that. Fortunately, AMG buyers have plenty of Mercedes-Benz models to choose from.

Mercedes AMG GT3 racecar due in 2016

Our life with the Mercedes-AMG GT has only just begun, and a full life it looks like it will be. The latest in preposterous two-doors from AMG is launching in GT and GT S flavors, but a few more branches of the family tree are already planned: a racing entry for the FIA GT3 championship is scheduled to appear in 2016, giving the current SLS AMG GT3 another year to gobble up victories before it takes a drive across the Styx. More exciting for those who only suit up on Sunday for church, whispers are that a we'll also get a streetable version of the race car - not called "GT3" because that alphanumeric is owned by Porsche, but definitely aimed at its Stuttgart rival. AMG boss Tobias Moers told Autocar the objective for that car is "more power, less weight, better aerodynamics and different suspension but the targets should be the power to weight ratio, drivability, lap time and tremendous feel." Those targets will be aided by a carbon fiber weight-loss regime of up to 220 pounds and more power - perhaps 550 horsepower - from the currently "very understressed" engine. Supposing that still isn't enough for you, then the Black Series version should curl your toes, if you can wait until 2018 for it.