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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.

Daimler, Qualcomm working on wireless EVs

Despite not being available on any mass-produced electric vehicle, wireless charging is not new. In fact, Qualcomm is an old name in the business and has announced partnerships with major automakers before. In 2011, for example, Qualcomm and Renault said they would work together on wireless electric vehicle charging technology. Just something to keep in mind when you read about this past weekend's announcement that Qualcomm and Daimler are going to work together on wireless charging. To be fair, the announcement goes beyond just integrating wireless charging technology into new EVs. Qualcomm has a lot of future tech work going on that connect your car to other systems, like the 3G/4G cell network. These are the sorts of things that the two companies are going to work on first, but Halo Wireless Electric Vehicle Charging (WEVC) is on the To Do list. Qualcomm has said its Halo wireless charging parking spot technology, originally developed at the University of Auckland, could also be used in roadways at some point, so keep an eye out for Daimler test vehicles repeatedly driving over the same patch of asphalt. Daimler and Qualcomm Announce Strategic Collaboration on Connected Car Technologies MONACO – May 23, 2015 – Today, Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (NASDAQ: QCOM), and Daimler AG announced a strategic collaboration focused on pioneering innovation in the connected car. In the first phase of the collaboration, the companies will focus on transforming future vehicles with mobile technologies that enhance in-car experiences and vehicle performance such as 3G/4G connectivity, wireless charging technology for in-vehicle use and implementation of the Qualcomm Halo™ Wireless Electric Vehicle Charging (WEVC) technology. In addition, the companies are jointly assessing the application of Qualcomm Technology's newly developed Automotive Solutions. Qualcomm Technologies is collaborating with Daimler on its Wireless Power Transfer 2.0 high performance program for electric vehicles. The Qualcomm Halo™ WEVC technology provides high performance and high power in a small vehicle package that could allow Daimler customers to charge their electric vehicles (EV) and plug-in hybrid EVs without ever having to plug them in. In addition, Qualcomm® WiPower™ technology enables consumer electronics to charge wirelessly in-vehicle.

Weekly Recap: Takeaways from the Frankfurt Motor Show

We obsessively covered the 2015 Frankfurt Motor Show, and naturally, we selected our favorites from this fall's biggest automotive event. Now that the dust has settled, we're looking ahead to what it all means. Here are three takeaways from the floor in Frankfurt. The Germans are serious about electric vehicles: It's a bit cliche to say BMW, Mercedes, and Audi have downplayed electrics in favor of other technologies, like diesels. For a time that may have been true, but those three companies, along with Porsche and Volkswagen, are emerging as leaders in EV development. That was on display in Frankfurt, when all of them revealed either all-electric or plug-in hybrid models. Gas prices are relatively low in the United States, but clearly the Germans are thinking long-term and globally. Everyone is serious about SUVs: You gotta have one, even if you're Bentley or Jaguar. It's 2015 and it's what consumers want. As Jaguar design director Ian Callum put it, "Not to be in the sector would be a little naive for the sake of purity." It's not just the flashy exotic luxury makers. Nissan showed the Gripz concept, which is rakish, radical, and meant to blend traits of SUVs and sports cars into a vehicle that really crosses over. Look for more, especially in the luxury sector, as Rolls-Royce, Lamborghini, and Aston Martin ramp up their own SUV efforts. There's no ceiling to the luxury market: Speaking of high-end cars, companies are continuing to invest in extravagant wares beyond just SUVs. Even during the recession, ultra-luxury makers remained relevant, and now they're back at full stride. In Frankfurt, that was illustrated by yet another S-Class model, the cabriolet, which will come in S550 and S63 AMG variants in the United States. Ferrari also showed off the 488 Spider, and Lamborghini opened up the Huracan LP 610-4 Spyder. Meanwhile, Bugatti's Vision Grand Turismo concept reminded enthusiasts that it's plotting life after the Veyron. European auto shows always draw the glitziest reveals from luxury makers, and this year didn't disappoint. OTHER NEWS & NOTES 2016 Honda Civic redesigned with snazzier style, turbo power The 10th-generation of the Honda Civic debuted this week at events in Los Angeles and Detroit ahead of its launch in the United States this fall as a 2016 model. Honda fortified the Civic with LED lights, an available turbo engine, and a more tech-laden cabin.