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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.

Daily Driver: 2016 Mercedes-Maybach S600

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, featuring impressions from the staffers that drive them every day. Today's Daily Driver features the 2016 Mercedes-Maybach S600, reviewed by Adam Morath and Greg Migliore. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPTAdam: [00:00:03] Hi, I'm Adam Morath for Autoblog and I busted out the bowtie for today's Daily Driver because we are in a 2016 Mercedes-Maybach S600. Now, this is like the S-Class on caviar. They've taken one of the most refined vehicles in the world, dropped a V12 under the hood and added tons of content, but it's also one of the rare examples where the best place for review the car is not from the drivers' seat. I'm going to kick it back to my associate, [00:30:00] Greg Migliore to tell you a little bit more about this car.Greg: All right, well thanks, Adam. It's really great to be rolling around in Birmingham with my footmen... I mean co-worker, Adam. I'm in the back of the S600 here. This Maybach is spectacular in so many ways back here. I'm really up to my elbows, up to my waist in heated leather. Everything here is heated. It's a really, really, bespoke setting. Now, it's almost 3:00. I think, you know, happy hour is near. I could go for a drink. [00:01:00] The Maybach has you covered. Pop this right down, you're going to pull this out right here where my liquor is chilling and there is a nice faster right here in the center console where you can put your goblet down and these prongs stick out and wrap around the stem of the base, so you know, if Adam hits a bump here, hey, I'm cool, it's no problem. Now, while I'm back here, there's so many things I can do. There's a tablet in front of me. [00:01:30] There's a remote control, light very aerodynamic if there is such a thing for a remote. I'm going to tune up the radio here, put on some, I think I'll tune up the symphony hall, because that is what is appropriate in this vehicle. I can also queue up a massage if I would like. All jokes aside though. The Maybach is big business for Mercedes. They brought this name back recently because there's a different sort of value than just a standard S class and that actually allows them to capitalize [00:02:00] on a pretty lucrative market. It starts at about $190 and I can tell you for sure this is not an entry level car, so I'm sure we're looking at over $200, in that range, but you get a lot.

Autoblog Podcast #412

Episode #412 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus discuss the automotive news coming out of the 2015 Consumer Electronics Show and talk about the cars we're most looking forward to driving this year. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #412 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2015 CES automotive news Cars we're most looking forward to driving this year In The Autoblog Garage 2015 BMW 428i xDrive 2015 BMW 435i xDrive 2015 Mercedes-Benz C300 4Matic Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:30:05 Rundown Intro and Garage - 00:00 2015 CES - 19:54 Cars we want to drive - 36:07 Q&A - 58:59 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts CES BMW Mercedes-Benz CES 2015