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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.

Recharge Wrap-up: Tesla firmware update videos, Mercedes S500 Plug-In Hybrid

See the Tesla Model S with Firmware 6.0 in action in new videos from Teslarati. The large software update includes improved traffic-based navigation, a calendar function, updated power management, "Location-Based Smart Air Suspension" as well as other improvements. Drivers get more route options to save energy, and more control over how the car saves energy. The car can also remember ride height settings when driving in those same locations again. Additionally, you can start and drive the car without a key, just using the smartphone app. See how it all works in the videos below, the second of which focuses on pairing with the updated phone app. The California Public Utilities Commission (CPUC) has deemed ride-hailing app Uber's carpooling service illegal. The way the UberPool service is categorized by the CPUC, charging multiple riders separate fares for a single ride runs afoul of the law. The technical details are a bit convoluted, and what supporters could deem arbitrary, but Forbes delves into the details a bit further to try to make sense of California's intentions (even considering the possibility of other ride services, such as airport shuttle companies, fueling the fire). Lyft - which operates a similar service called LyftLine - and Sidecar have also received notices from the CPUC. Read more at Forbes. China's recent enthusiasm for electric vehicles could be largely attributed to a single person, Ma Kai. After the Politburo member was named vice premier, he encouraged maintaining and increasing EV subsidies when China sought to decrease them. He also seems ready to fight for more EV deregulation to encourage more clean vehicles. Read more about Ma Kai and what he's done for China's EV legislation at Automotive News. Mercedes-Benz begins deliveries of the S500 Plug-In Hybrid this month. The high-tech luxury PHEV features energy saving modes based on driver, route and traffic, and features a haptic accelerator that can signal when the driver should ease off to save power. It's powered by a biturbocharged V6 and 85-kW electric motor. Its 8.7-kWh battery offers about 20 miles of electric driving. The S500 plug-in starts at about $146,000. Read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Smart Cross Connect app changes how ForTwos get used [UPDATE]

UPDATE: The story's been updated with a response from a Smart representative. There are parking spaces, and then there are Fortwo parking spaces. Smart, which is owned by Mercedes-Benz parent Daimler, is looking for a way for its customers to take advantage of the difference. Think of it as a big thing for really small cars. Smart is working on an app for the redesigned Fortwo called Cross Connect that will be available as soon as next month, says Automotive News, citing Smart chief Annette Winkler. The idea is to connect owners of the diminutive two-seat vehicles to, for example, let them tell each other when there's a parking space that's too small for just about any other vehicle but big enough for a Smart. If you think that's a small thing, think again. The Fortwo is 8 feet, 10 inches long. That's almost six feet shorter than a Toyota Prius, which itself isn't exactly a stretch limo. In fact, the length of a Smart Fortwo is just 10 inches longer than the width of a Ford F-150, in case anyone was having misgivings about parking perpendicular in a parallel spot. Parking has become more relevant, and tougher, as more people move to urban centers. For instance, BMW said earlier this month that it would discontinue its DriveNow car-sharing operations in San Francisco because of the challenge of parking vehicles on that city's streets. Other possible amenities with the Cross Connect app including the enabling of personal car sharing as well as information on car washes that offer discounted rates for Smart Fortwo. Yes, there are some out there, apparently, and we salute them. Michael Minielly, a spokesman for Mercedes-Benz, confirmed to Autoblog that the Cross Connect features would be available in November. You can read Autoblog's driving impressions of the 2016 Fortwo here. Featured Gallery 2016 Smart ForTwo: Second Drive View 23 Photos News Source: Automotive News-sub.req.Image Credit: Drew Phillips Green Mercedes-Benz smart Technology Smartphone fortwo