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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.

If you're a Daimler exec, you'll soon have to drive an EV

Luckily, for Daimler's "senior level" managers, the company has a lot of plug-in vehicle options. Lucky because "in the future," these managers will have to drive the company's electrified vehicles. This most likely means a plug-in hybrid – something like the C 350 e or the GLE 500 e 4MATIC – but it could also be the all-electric and peppy Smart ED or the B-Class EV. Board member Ola Kallenius said in a statement (available below) that this new policy, "We are continuing on the path of zero-emission driving with consistency. This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." It's a big change from five years ago, when Daimler's director of fuel cell and battery drive development, Christian Mohrdieck, was willing to talk up the drawbacks EVs face. Even a year ago, Daimler CEO Dieter Zetsche explained the financial hardships involved in making EVs. But, EV technology continues to change, and so, perhaps, do the attitudes inside Daimler. As EV advocate Chelsea Sexton said on Facebook regarding this new policy, "This should be standard procedure in any automaker seeking a leadership role in the plug-in vehicle movement. Commitment starts at the top." Related Video: Electric Mobility: Daimler Management leads by example Daimler is once again setting a new milestone on the road to zero-emission driving: In the future managers will drive electrified company cars. Furthermore, Daimler is this year set to invest a further 30 million euros into extending the company's own charging infrastructure across many of its sites. This will also benefit employees, who have access to a growing range of vehicles with alternative drive systems. Stuttgart. It represents a further commitment from Daimler to an electric future for mobility: "We are continuing on the path of zero-emission driving with consistency", states Ola Kallenius, member of the Board of Management of Daimler AG responsible for Mercedes-Benz Cars Sales and Marketing, about the importance of the current initiative. "This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." The agreement applies to the company's senior levels of management and focuses on plug-in hybrids.

Mercedes unveils GLC350e 4Matic PHEV

Mercedes-Benz intends to introduce at least 10 plug-in hybrid models to the market by 2017, and the the Mercedes GLC350e 4Matic is the latest one to show its electrified face. It's also the second crossover from the company to offer a PHEV version following the GLE550e 4Matic. Mercedes isn't releasing all of the details about the plug-in GLC yet, but it combines an internal combustion engine making 208 horsepower and a 114 hp electric motor with a seven-speed gearbox. Total torque is 413 pound-feet. The combo is enough to get the all-wheel drive crossover to 62 miles per hour in a purported 5.9 seconds and a claimed top speed of 146 mph. Fuel economy in the European cycle is estimated at the equivalent of about 90 miles per gallon, and there's a 21-mile pure electric range for zero-emissions cruising. Based around the newly introduced GLC-Class, buyers can still order a plethora of luxurious amenities, but the plug-in powertrain also comes with a few tweaks to help drivers maximize fuel economy. There's a haptic accelerator with a resistance point to indicate the switch between electric and combustion power. In addition, the hybrid system can anticipate the road ahead through radar and GPS to manage things as efficiently as possible. One of the GLC hybrid's biggest advantages when it arrives is the small field of competitors. Neither BMW nor Audi currently have a compact luxury crossover of this size with a hybrid option in the US. That really only leaves the Mercedes to take on the Lexus NX300h with total system output of 194 hp, and that's not even a plug-in. The GLC350e 4Matic isn't part of the new model's initial launch lineup in the US. It should be coming along later, though. Key topic: Energy efficiency - Economy on four wheels A revised all-wheel-drive powertrain, the outstanding aerodynamics and the intelligent lightweight design are the primary reasons for the high energy efficiency of all the new GLC models. The conventional diesel and petrol models boast significant reductions of up to 19 percent in both fuel consumption and CO2 emissions in comparison to the previous generation, while at the same time improving performance. GLC 220 d 4MATIC GLC 250 d 4MATIC GLC 250 4MATIC Output, kW/hp 125/170 150/204 155/211 Torque, Nm 400 500 350 Fuel consumption (l/100 km) 5.0 - 5.5 (6.1 - 6.5) 5.0 - 5.5 (6.1 - 6.6) 6.5 - 7.1 (7.5 - 7.9) ? Consumption % -19 -19 -12 CO2 g/km 129 - 143 (159 - 169) 129 - 143 (159 - 169) 152 - 166 (173 - 180) ?