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Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.

Audi, BMW, Daimler buy Nokia's Here digital mapping business

The fight for control of Nokia's Here digital mapping service appears to have drawn to a close as a consortium of German automakers has announced a deal to jointly acquire the business from the Finnish telecom giant. As anticipated, ownership in Here will now be taken over jointly by Audi, BMW, and Daimler, beating out reported rivals bids from the likes of Apple and Uber. Here is one of the largest and most advanced digital mapping and location systems. It started out in Chicago in 1986 as Navteq before Nokia acquired it in 2007, and is now slated to change ownership again. The cloud-based service maintains high-definition digital maps for nearly 200 countries and supports over 50 languages, gathering data from users to update the data continuously. Rather than transition the service into their own proprietary technology, however, the automakers insist that it will remain open "to all customers from the automotive industry and other sectors." Ownership will be shared equally between the three companies, with "none of them seek[ing] to acquire a majority interest" in Here. For another, Here's management is promised to remain independent, and "the consortium will not interfere into operational business." Though the purchase price has not been disclosed, it is rumored to be worth in the neighborhood of $2.7 billion. Assuming it passes regulatory approval, the acquisition is slated to be completed in the first quarter of next year. The German automakers anticipate implementing the service to provide connected vehicles with accurate, up-to-date information on road and other conditions. Examples it outlines include warning other drivers of icy conditions based on outside temperature and ABS activation. It could also warn drivers of impending traffic jams, or even guide traffic through green lights in an urban environment. In the future, the highly detailed maps are envisioned to enable fully automated driving as well. Related Video: AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business Ingolstadt, Munich, Stuttgart, Aug 03, 2015 - Acquisition will secure and strengthen HERE as an independent company serving customers from all industries - Real-time maps and location based services will be the basis for the mobility of tomorrow - Transaction expected to close in first quarter 2016 Ingolstadt, Munich, Stuttgart – August 3rd, 2015.

Brabus boosts big Benz plug-in hybrid

With vehicles like the BMW i8 and Porsche 918 Spyder, the Germans have demonstrated as well as anyone that "performance" and "hybrid" can go in the same sentence. And now Brabus is plugging in to the performance hybrid station as well. Though nowhere near as extreme as the aforementioned PHEV sports cars, the Brabus PowerXtra B50 Hybrid performance kit kicks the Mercedes S550 Plug-In Hybrid up a notch. The electric side of the powertrain remains untouched, but the internal combustion engine has been boosted by 51 horsepower and 52 pound-feet of torque. That gives the 3.0-liter turbocharged V6 a total of 385 hp and 405 lb-ft, which is nothing to cough at – but with the electric boost kicking in, the vehicle now packs a combined output of 493 hp and 656 lb-ft. That slots its twist figure in between that of the S600 and S63 AMG. As a result, the big Brabus hybrid will now reach 62 miles per hour from a standstill in just 4.9 seconds (down from 5.2) – almost as quick as the 12-cylinder model but with half the pistons – though the top speed remains pegged at 155 mph. Naturally, Brabus didn't stop there, giving the sedan a new exhaust, aero kit, rolling stock and interior, all catered to the customer's specifications. BRABUS PowerXtra B50 Hybrid with 368 kW / 500 hp (493 bhp) and 890 Nm of torque The eco-friendly performance upgrade for the new Mercedes S 500 PLUG-IN HYBRID For more than 35 years, BRABUS has been the synonym for powerful high-performance automobiles and exclusive refinement at the highest level of perfection. One philosophy has always been paramount in all these years: combining top performance with exemplary eco-friendliness, immaculate durability and perfect everyday practicality. With the new BRABUS PowerXtra B50 Hybrid performance kit for the new Mercedes S 500 PLUG-IN HYBRID, the engine specialists of the world's largest independent tuner once more demonstrate their unrivalled know-how. The power increase of the V6 engine by 38 kW / 52 hp (51 bhp) and the boost in torque by 70 Nm (52 lb-ft) bumps the system output of the hybrid sedan to 368 kW / 500 hp (493 bhp) and system torque to 890 Nm (656 lb-ft). As a result, the luxury liner sprints from rest to 100 km/h (62 mph) in just 4.9 seconds, and impresses in daily driving with even further enhanced superiority. Due to the hybrid system, the top speed remains electronically limited to 250 km/h (155 mph).