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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

2016 Mercedes S-Class Cabriolet airs out the good life

Mercedes-Benz has finally dropped the top on its range-topping model, the long-lived S-Class. The new cabriolet takes the handsome, sophisticated good looks of the hardtop model and adds a three-layer canvas roof that can be lowered or raised in just 20 seconds. On top of the unlimited headroom, the new S-Class Cabriolet adds Mercedes' popular AirScarf neck-warming system, as well as a new nine-speed automatic transmission on the S550 model. As we previously reported, the S63 AMG will continue to use the seven-speed AMG Speedshift transmission. Both cars match their hardtop and four-door counterparts in terms of output. On top of AirScarf, Mercedes also fitted the Thermotronic climate control system. It uses 12 sensors and 18 actuators to measure a wide array of metrics, all in the pursuit of keeping the cabin temperature at the driver's ideal temperature. Scroll up for our full gallery of photos of the new S-Class Cabriolet from the floor of the 2015 Frankfurt Motor Show. We also have the official press release from Mercedes down below. Check them out. The new Mercedes-Benz S-Class Cabriolet Open-top luxury Stuttgart. The new S-Class Cabriolet is the fourth variant of the current S-Class family in the U.S. market and the first open-top flagship four-seater from Mercedes-Benz since 1971. It offers a distinctive, sensual and exclusive design, the cutting-edge technology of the S-Class and a comprehensive warmth and wind protection concept which includes intelligent climate control for convertibles. The elegantly sporty model will have its world premiere at the Frankfurt International Motor Show in September. Also on display in Frankfurt will be a superlative dream car from Mercedes-AMG in the guise of the S63 4MATIC Cabriolet. Its 5.5-liter V8 biturbo engine offers an output of 577 hp and peak torque of 664 lb-ft, AMG Performance 4MATIC all-wheel drive with rear-biased torque split as standard and acceleration from 0 to 60 mph in 3.9 seconds. "After 44 years we are once again able to offer Mercedes aficionados an open-top car in the S-Class. The new S-Class Cabriolet symbolizes our passion for individual and timelessly exclusive mobility, which we share with our customers," remarks Ola Kallenius, Board Member of Daimler AG, Mercedes-Benz Cars Sales. The new S-Class Cabriolet is exceptionally rigid.

Sunday Drive: Subaru Ascends up to the hottest market segment in America

Utility vehicles – in other words, crossovers and SUVs – are so hot right now. Two of our top stories from last week revolve around the utilitarian vehicle, but besides their jacked-up, five-door bodystyles, they couldn't be more different. The 2019 Subaru Ascent is headed into an extremely crowded and competitive segment, where it'll have to go up against industry stalwarts like the Toyota Highlander and Honda Pilot, not to mention upstart contenders like the Volkswagen Atlas. The Mercedes-AMG G63, on the other hand, has very little competition – there simply aren't very many ultra-luxurious, off-road-ready SUVs in the world vying to attract the dollars of the wellest-to-do customers across these United States. Moving on from crossovers and SUVs, our readers remain attracted to classic front-engine, rear-wheel-drive sportscars. The Toyota Supra's upcoming rebirth earns two places on our list of stories worth highlighting from the week that was; one with leaked information from a Japanese magazine, and another with rumors indicating that maybe we shouldn't be quite so excited. And finally, there's the strange case of the long-lost 2009 Chevy Corvette Z06 that one lucky individual happened to find squirreled away in a storage container with just 720 original miles. A high-horsepower head scratcher if we've ever seen one. As always, stay tuned to Autoblog this week for all the latest automotive news that's fit to print. 2019 Subaru Ascent vs Honda Pilot vs Toyota Highlander: How they compare on paper 2019 Mercedes-AMG G63 set to bare its 577-horsepower heart in Geneva Toyota Supra leaks in Japanese magazine ahead of Geneva debut Toyota Supra to be little more than a rebodied BMW Z4? Forgotten 720-mile 2009 Corvette Z06 emerges from storage Chevrolet Mercedes-Benz Subaru Toyota Coupe Crossover SUV Luxury Off-Road Vehicles Performance barn find sunday drive subaru ascent mercedes-amg g63