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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 previews new C63 DTM racer alongside Edition 1

The new C-Class Coupe will undoubtedly be one of the main points of focus at the Mercedes-Benz pavilion in Frankfurt this year. But the Silver Star automaker will have more than just the base version to showcase. There's be the new AMG C63, and now two additional versions. First up is the Edition 1, the designation Mercedes often applies (in some markets anyway) to launch versions of exciting new models. For the C63 Coupe, the Edition 1 features a raft of upgrades, available in either standard (476 horsepower) or S (510 hp) states of tune. It's done up in one of two exterior appearance packages, in matte gray with either yellow trim or black. The Edition 1 also wears special 19-inch wheels in the front and 20-inchers at the back, ceramic brakes, enhanced aerodynamics package, more chrome and gloss-black trim, and an optimized interior with racing buckets. Alongside the Edition 1, Mercedes will also reveal the new DTM racing model in Frankfurt. And following the teaser sketch released the other day, it's giving us our first proper look at the new touring car right here. The new C63 DTM will replace the existing C-Coupe DTM (as it has been formally styled) that has represented the automaker in its local tin-top racing series since 2012 – winning seven races over the past four seasons, but not a championship yet. If looks are anything to go by, the new racing coupe could be up to the task. Special Model to Market Launch: Mercedes-AMG C 63 Coupe Edition 1: Inspired by Motorsport Affalterbach. Mercedes-AMG is bringing the C 63 Coupe Edition 1 special model to the starting line. The exclusive colour combination in designo Magno Selenite Grey with yellow film coating and black wheels with yellow painted rim flanges reflects the graphic design of the Frankfurt International Motor Show launch version of the Mercedes-AMG C 63 DTM racing coupe which will be used in the DTM next year. The special model is equipped with Performance seats and an aerodynamics package, highlighting its proximity to motorsport. The new Mercedes-AMG C 63 Coupe and C 63 S Coupe are also available as "Edition 1" special models from market launch. The extraordinary combination of exclusive design and equipment characteristics is inspired by the optical appearance of future Mercedes-AMG racing coupes which will compete in the popular DTM series in 2016. Two exterior designs address different customer wishes.

2019 BMW X7 vs luxury SUV rivals: Comparing specs and photos

Today we get our first-ever look at the first-ever 2019 BMW X7 crossover. We've actually already had our first-ever drive in an X7 Prototype. And so, we thought it appropriate to follow that up today with the first-ever X7 comparison of specs between BMW's first-ever three-row crossover with legitimate room for seven and its many high-dollar competitors. On paper, the 2019 X7 definitely seems to most closely align with the Mercedes-Benz GLS-Class. Their similar dimensions, interior space, engine choices and price would certainly imply where BMW placed the target when developing X7. We used those same elements to determine three-row vehicles likely to be cross-shopped or that should be cross-shopped. These include the Audi Q7, Land Rover Discovery, Volvo XC90 and Lincoln Navigator. Yes, the latter is a truck-based SUV as opposed to a crossover, but tell that to all the people lining out the door at the local Lincoln emporium. They do not care, and neither shall we. We also included the 2019 BMW X5, which was completely redesigned for this year and therefore not the first-ever. That makes it less appealing? Either way, lining the new X5 up with the SUV that leapfrogs it atop BMW's SUV hierarchy should provide a good idea of just how much more you get by going up a model number. Engines and model lineup Again, the X7 aligns closest with the GLS, offering a base six-cylinder in its xDrive40i model and an upgrade turbo V8 in the xDrive50i. The Mercedes engines have greater output, but the GLS still accelerates slower than the BMW. As the 2019 X5 offers the exact same engines, we would also expect the X7's fuel economy to be superior to the GLS once its estimates are announced. It should be noted, though, that the GLS offers a high-powered AMG model whereas we anticipate the X7 to offer a plug-in hybrid model comparable to the X5 upcoming xDrive45e model. The other luxury SUVs diverge in their engine choices and model lineup. The Audi Q7 offers a base turbocharged four-cylinder, as does the Volvo XC90 in its T5 model, which we left out of the above chart entirely for space reasons. That the Q7 3.0 TFSI supercharged V6 gets the same fuel economy estimates as the four-cylinder is proof positive that engine is purely around for its lower base price.