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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Mercedes G-Class 'Designo Manufaktur' even more upscale

Catering to customers who want the brand to provide more customization instead of having to confer with aftermarket tuners, Mercedes-Benz has added a new design book of options to the G-Class called Designo Manufaktur. Developed to offer a range of personalizing choice, a studio in Graz, Austria where the G-Class is built adds exclusive colors and hand-finished touches for buyers, some of them reserved only for the AMG models. New exterior colors include a roof that can be drenched in obsidian black and sheetmetal dressed in non-metallic fire opal, metallic designo mauritius blue metallic, and matte hues like designo yellow olive magno. The wheel selection has grown, with alloys available in black, and the spare wheel cover - normally in a polished finish - can be painted body color. The side strips can be all black instead of black and chrome, or carbon fiber-look for AMG models. Throw the Night package on top of all that and you get more black touches in places like the mirror housings and dark-tint windows. The interior options add saddle brown, deep-sea blue, silk beige, and mocha brown to the collection of swatches, with coordinating topstitching. AMG models can be decked out in red, with red seat belts, and Dinamica microfiber accents. The press release below tells the whole story. Even more individuality ex factory: "designo manufaktur" for the G-ClassStuttgart, Dec 04, 2015 - The Mercedes-Benz G-Class has been writing an incomparable success story since 1979. "designo manufaktur" is now making the classic cross-country vehicle even more individual ex factory. Customers can now tailor the off-road icon to their personal style.The name says it all: "designo manufaktur" captures customers' imagination with individual equipment and appointments features, traditional craftsmanship and the highest quality. The new individualisation programme fulfils the wishes of numerous G-Class customers for their own personal, tailor-made cross-country vehicle. "designo manufaktur" offers exclusive, unique colour and material compositions inside and out. With a host of combination options, the off-roader develops its very special character and unmistakable style.The Manufaktur hand-finishing section, which turns a G-Class into a unique "G", is located in Graz. Be it exterior or interior, topstitching or model badge, virtually every detail is lovingly crafted by hand.

Smart brand might be doomed

Reports are painting a less than rosy picture of the Smart brand's future. The Daimler-owned carmaker is going fully electric in 2020, but that might not be enough to keep it alive for long. Inside sources, quoted by Automobile Magazine, are saying Renault is likely to pull out of the partnership that created the current Smart ForTwo/Renault Twingo pairing introduced in 2014. The two rear-engined cars share a platform, and when the current Twingo is done for, Renault might want to part ways. In addition, Mercedes isn't willing to prop up Smart on its own, and there is a possibility that the entire Smart brand could be shuttered by 2026. A previous joint venture was the ForFour hatch co-developed with Mitsubishi, and despite the ForFour name living on in the current generation rear-engined car, the earlier FWD hatchback has quickly been forgotten. Not long ago, Smart presented its Forease open-top concept to give customers a glimpse of what future Smart cars would look like, but at its heart the Forease was still a current Smart dressed up with concept car details. The next-generation Mercedes-Benz A-Class is to be signed off in 2021 for a 2025 introduction, and it can be underpinned by a more flexible, fully scalable platform that could also serve to support a new entry-level Mercedes-Benz vehicle that could render the separate Smart brand pointless. Then there's Geely, who now owns nearly 10 percent of Daimler, and who is partnering with Daimler to launch a new "premium" ride-hailing venture in China. As Geely develops its mobility solutions, it is likely to keep an eye on Smart: Smart cars have been car-sharing staples around the world for quite a while, from users such as Car2Go. Automobile Magazine says that if a Smart is co-developed with Geely, it might suit the Chinese market well, but a global business case might be challenging. In any case, if Smart wants to survive beyond the current Renault partnership, the new model should be agreed upon quickly, and it must be based on a platform flexible enough to support full electric drive. Reportedly, there are now ongoing feasibility studies for a fully electric Daimler "U-Class," which would include a Smart-like three or five-door hatch with two wheelbase options, a ride-sharing shuttle with autonomous capabilities, and an urban delivery panel van. But Smart must justify itself for the upcoming decades, or the future Daimler products that occupy its niche will be wearing a three-pointed star instead.