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Smart brand will be built in China as a Daimler-Geely joint

FRANKFURT/BEIJING — Daimler will build its next generation of Smart electric cars in China through a joint venture with Geely, as a way to increase economies of scale in a market segment that is struggling to turn a profit. China's Geely built a stake of almost 10 percent in Daimler last year, saying it wanted to forge an alliance to develop electric and self-driving cars to better compete against new challengers such as Uber and Google. Daimler said on Thursday it would build the next generation of Smart-branded city cars at a purpose-built factory in China, and planned to share its expertise in manufacturing, engineering and design with Geely. The high cost of electric car batteries has made it hard for automakers to build affordable zero-emissions vehicles, leading several of them to strike alliances with Chinese partners. Daimler's German rival BMW recently unveiled plans to build electric Minis in China, where production costs are low and demand for small electric cars is rising. Daimler and Geely did not disclose financial terms of their deal. The details of the joint venture will be finalized by the end of 2019, they said in a joint press release. Daimler currently develops and builds Smart cars with Renault at factories in France and Slovenia. The Daimler factory in Hambach, France, will be retooled to build Mercedes-Benz cars. Geely has been expanding rapidly through mergers and acquisitions since 2010, when it acquired Swedish carmaker Volvo from Ford. Last year, Daimler and Geely set up a ride-hailing joint venture in China. Daimler's Chief Executive Dieter Zetsche said last month the German carmaker was in talks to deepen its alliance with Geely after the Chinese's group's chairman Li Shufu bought a 9.69 percent stake in Daimler in 2018.

Daimler buying 12% stake in Beijing Auto

Daimler and Beijing Automotive are officially going steady, with the German company set to take a 12-percent stake in the Chinese brand tomorrow. The two are already tied up in a Mercedes engine plant in Beijing, of which BAIC will increase its stake in, from 50 to 51 percent. Daimler will also get two seats on the Chinese company's board. BAIC may also gain the ability to produce cars on Mercedes-Benz platforms, according to Automotive News Europe.
The investment in BAIC comes ahead of that company's initial public offering, according to a report form Bloomberg, which indicates the deal will be inked tomorrow in the Chinese capital. According to the report, if the circumstances are right, BAIC may turn around and invest in the Germany company "soon."
It's not entirely clear just how much the 12-percent cut is costing Daimler, although it seems reasonable to assume that, as it's ahead of the IPO, the parent company of Mercedes is getting a bit of a bargain.

The Aston Martin DBS Superleggera leads this month's list of discounts

The average price of a new car in America last year was $35,932. This month, the biggest discount off the retail price of a new car in America is awfully close to that figure at $34,001. For those keeping track (as we do every month with a post like this one), that's by far the largest discount we've seen so far this year, and it means buyers of the 2020 Aston Martin DBS Superleggera are paying an average transaction price of $273,819. The British automaker calls the DBS "the ultimate production Aston Martin." With a 715-horsepower V12 engine pulsating underhood, sufficient to push this grand touring coupe from 0-60 in a skosh over 3 seconds and on to a top speed of 211 miles per hour, who are we to argue? If that's too rich for your blood — and let's be honest, it's still a whole heck of a lotta money — the next biggest discount might be at least a little more attractive. According to data provided by TrueCar, buyers of the 2019 Mercedes-AMG GT are seeing discounts of $23,103 off the car's average sticker price of $159,995. That's a heck of a lot of car for $136,892, though admittedly still expensive. But at 14.4% off retail, it's a better deal than the $132,122 average transaction price of the 2020 BMW M8. The BMW's $16,497 discount equals 11.1% off the M8's $148,619 sticker. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Featured Gallery Aston Martin DBS Superleggera View 33 Photos Aston Martin BMW Mercedes-Benz Car Buying Convertible Coupe Luxury Performance Supercars consumer car values biggest discount