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Mercedes' CEO says Google should study car use, not car building

Google is rapidly throwing its massive weight into many facets of the auto business. Not only does the search behemoth want to take on Uber, offer car insurance quotes and run a specific version of Android on future infotainment systems, but the company is also at least toying with the idea of constructing its own completely autonomous vehicles. Such a powerful corporation entering the industry could frighten some automakers, but Daimler boss Dieter Zetsche isn't worried. The mustachioed executive doesn't believe that Google actually means to become an automaker but is instead just studying how people use cars. "Google and the likes want to get involved, I don't think in the first place to build vehicles," he told analysts, according to Reuters. Zetsche sees future collaboration with the technology giant in a quite nuanced way in that there are some things they can be partners on and other places where the two corporations might be competitors. One area where Zetsche potentially predicts an antagonistic relationship with Google regards data privacy, a concern is becoming a hot topic in the auto industry at the moment. Zetsche foresees the future of safety in Mercedes-Benz vehicles as protecting occupants not just physically but also safeguarding their personal information. "To be able to provide that, we have to keep control, and we can't do that when it is collected by Google," Zetsche said to Reuters. News Source: ReutersImage Credit: Gero Breloer / AP Photo Mercedes-Benz Technology Emerging Technologies Infotainment Autonomous Vehicles

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.

Lewis Hamilton takes pole position at German GP as Ferrari falters

HOCKENHEIM, Germany — Lewis Hamilton took pole position for the German Grand Prix on Saturday, while Sebastian Vettel's miserable form continued for Ferrari as he was unable to even set a time and will start from the back. It got even worse for Ferrari as Vettel's teammate Charles Leclerc was unable to start the last part of qualifying, known as Q3, and is set to begin from 10th place on the grid on Sunday. "I don't know really how we did it today. I'm not quite sure what happened to the Ferraris," Hamilton said. "I think if Leclerc had done a lap at the end, it would have been close between us." Ferrari is winless in 10 races this season and that terrible run looks to continue, while Hamilton is aiming for a sixth win in seven. It was a record-extending 87th pole for the five-time world champion, who is 11 wins shy of Michael Schumacher's record of 91. Hamilton starts on the front row alongside Red Bull's Max Verstappen, who knocked Hamilton's Mercedes teammate Valtteri Bottas into third place. Red Bull's Pierre Gasly goes from fourth. "A bit disappointed with qualifying and I just struggled," said Bottas, who is level with Hamilton on four poles this season. "Ferrari (were) extremely quick and we knew it would be difficult to beat them ... We've been a bit lucky." Vettel, who crashed at last year's German GP despite leading from pole, looked visibly upset as he climbed out of his car in the team garage. The incident happened during the first part of qualifying, making him one of five drivers eliminated from Q1. The issue appeared to be related to a turbo problem, even more surprising given Ferrari had topped all three practice sessions heading into qualifying. Worried faces in the Ferrari garage turned to sheer horror as mechanics then detected a problem on Leclerc's car, ruling him out of the top-10 shootout in Q3. "Mine was a fuel system problem. It is a shame but we will be trying to understand what happened and not to reproduce it. The car felt great today so it's a shame it ended like this," Leclerc said. "I feel for the whole team. I will give absolutely everything to make everyone smile again tomorrow." Television footage showed a Ferrari fan in the stands sinking his face into his hands in disbelief. Mercedes head of motorsport Toto Wolff was sympathetic when commenting on Ferrari's latest setback. "It is a shame for Ferrari and for Sebastian at his home GP," Wolff told broadcaster Sky Sports, adding.