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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.

5 new EVs that make driving fun

One of the things enthusiasts bellyache about the most is electrification. The noisiest complainers say that EVs will suck the fun out of driving and can’t possibly be as engaging as a roaring gas engine. ItÂ’s undoubtedly true that the noises EVs make are not always as visceral and thrilling, but itÂ’s also true that electrification has ushered in a new era of performance that gas vehicles simply cannot match. WeÂ’ve gathered a list of EVs that donÂ’t suck to drive. We all know by now about Tesla and its Plaid models, which absolutely set the quarter-mile ablaze with their amazing acceleration figures. The vehicles on this list don't come from Tesla. Nor does the list include some highly anticipated performance EVs that will soon hit the market, such as the new 2024 Porsche Macan. This selection may be a bit short on range compared to tamer models, but at the same time, itÂ’s hard to ignore their specs and even harder to ignore the sensation that a full-throttle electric powertrain delivers. LetÂ’s dive in to see five new EVs that make driving fun. Porsche Taycan PorscheÂ’s gas-powered vehicles are among the most exciting on the road, so itÂ’s not surprising to see the automakerÂ’s first electric effort as a home run. The Taycan is available in a staggering number of configurations, ranging from the 375-horsepower base model to the massively powerful Turbo S models with up to 750 horsepower in temporary boost mode. Classic Porsche styling and high-end tech round out the package, making the Taycan one of the most desirable EVs today. That said, the TaycanÂ’s almost $91,000 starting price puts it out of reach for a majority of car buyers, and the prices keep steadily rising along with the performance. It also trades range for performance, as the least powerful variant is the most efficient, returning 242 miles with the extended-range battery. The car can take advantage of fast charging, however, and can recover up to 80 percent of its battery capacity in just over 22 minutes.   Kia EV6 GT How about a Kia that can out-accelerate many supercars, especially from a few years ago? The EV6 GT comes with two electric motors with a combined 576 horsepower and 545 pound-feet of torque. Its 0-60 mph time lands at just 3.4 seconds, and the EV offers a top speed of 161 mph, making it one serious Korean EV. At the same time, it features the standout styling of the standard model, which gives it a striking curb presence and a futuristic look that is unique among EVs.

Escape the dinosaurs in Jurassic World with Mercedes-Benz [w/video]

This year looks to be a big one for blockbusters. Furious 7 and Avengers: Age of Ultron are already hits, and more major premieres are on the way all the way up to the return of Star Wars in December. One of the next highly anticipated flicks due is Jurassic World, and Mercedes-Benz is throwing its marketing muscle behind the movie to showcase some of the brand's rugged vehicles. While we already know about its appearance in the film, the GLE-Class Coupe gets to play a pretty big role because Bryce Dallas Howard's character drives one of the new crossovers around the dinosaur-infested island. As previously teased, a G63 AMG 6X6 also plays a part in the flick. Mercedes is showing off a standard G-Class, Unimog, and Sprinter to do some offroad work in the park, as well. Among the advertising efforts, Mercedes has a print ad for the GLE-Class Coupe with the film's monstrous Indominus Rex dino, and you can check it out in the gallery above. Also, the company has a commercial showing off some of the vehicles in action in the movie, which you can watch below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mercedes-Benz Launches Campaign to Support Universal Pictures and Amblin Entertainment's Jurassic World The dinosaurs are back Stuttgart. This summer, when the long-awaited next installment of the groundbreaking Jurassic Park series, Jurassic World, arrives in theaters, an entire fleet of Mercedes-Benz vehicles will share the spotlight. Alongside the iconic G-Class, Unimog, Sprinter models and the all-new GLE Coupe will play a leading role in the epic action-adventure. Mercedes-Benz will accompany the release of the film with a comprehensive co-promotional package that includes a television commercial, print and online advertising, dedicated microsites and social-media activities. The commercial, starring the Mercedes-Benz vehicles from the film, launches today in the U.S. and Europe. Additionally, a custom key visual was developed for all communication in which the all-new GLE Coupe is seen eye-to-eye with the film's fearsome Indominus rex. "In 1997 the Mercedes-Benz M-Class made its first official appearance in the Hollywood Blockbuster 'The Lost World: Jurassic Park'. Today, 18 years later, another Mercedes-Benz car will debut in a significant role in the latest installment of the groundbreaking Jurassic Park series named Jurassic World: the new GLE Coupe", says Dr.