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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.

Mercedes-Benz CLA45 AMG coming to the New York Auto Show

Mercedes-Benz showed off the CLA45 AMG at a private event on the eve of the Geneva Motor Show, but was determined not to let it be photographed. We can talk about it, though - after all, a teaser image was released to promote the new Sony game Drive Club. The CLA45 AMG will use the same powertrain as the A45 AMG, which means a 2.0-liter turbocharged four-cylinder with 360 horsepower and 332 pound-feet of torque. And that means a small four-door coupe sedan with the highest horsepower-per-liter in the segment. It will shift through the same seven-speed dual-clutch transmission, should also run out of speed at 155 miles per hour and have that three-stage stability control system.
As with its hatch sibling, the CLA is already so aggressive on the outside - and the parent company so anxious not to demolish the sedan's 0.22 coefficient of drag - that not much has been done to the cranked-up CLA. Even the rather thin tires on the standard only get a little less thin on the hotter variant. Inside will be the telltale AMG signs, with lots of red detailing and that flat-bottomed wheel among the giveaways. We'll know more later this month when the wraps come off at the New York International Auto Show.

Project Maybach is an absurd, awesome off-road electric coupe

Mercedes has created some mighty unusual concepts for the Maybach luxury brand. The Exelero high-speed test car and the Ultimate Luxury SUV sedan come to mind. But the Project Maybach, designed in collaboration with late fashion designer Virgil Abloh, may be the wildest yet, being an electric off-road coupe. It's not just the fact it's a two-door off-road coupe. It's the fact that it's a nearly 20-foot-long two-door off-road coupe. And it has very traditional proportions and lines, with a gargantuan front end, and a somewhat less gargantuan rear end. It's squared-off, but in a more elegant, midcentury luxury car way than say, a Hummer. And of course, it has a huge chrome grille and highly embellished taillights, complete with Maybach logos. And yet, this old-school coupe sits high off the ground. It rolls on small, steel-style wheels with chunky tires. It even has skid plates, bolt-on fender flares, rock rails and a roll cage with a roof basket. It's all painted in a matte tan paint that makes it look like a desert-ready expedition vehicle. It's even arguably practical for expedition work. The somewhat spartan-looking interior has tan leather seats that recline fully flat for sleeping. Being an electric car with long areas unoccupied by people, plus that roof basket, it likely has loads of cargo space. On the hood are solar panels that might provide a bit of range, but would at least be handy for recouping some power for accessories. The interior seems to have additional storage bins and tools stowed in special compartments around the cabin. As for the actual performance and range, well, Mercedes has nothing specific. That's not entirely surprising, since this seems to be solely a design exercise. As such, don't expect to see a production model anytime soon. Then again, off-road luxury vehicles are certainly popular. Maybe Mercedes would consider it if there were enough seriously wealthy customers expressing interest. Related video: