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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.

Brabus spools up new 850 6.0 Biturbo Coupe

With a 5.5-liter twin-turbo V8 cranking out 577 horsepower and 664 pound-feet of torque, the Mercedes-Benz S63 AMG Coupe is not the first vehicle we'd figure was in need of an upgrade. But the folks over at Brabus have evidently felt otherwise, bringing the 850 6.0 Biturbo Coupe to the Geneva Motor Show this year. Now the name might be slightly misleading, but not by much: the revving heart of this beast has been bored out to 5.9 liters and its output raised to 838 horsepower (by our standards). The modified engine also includes new turbochargers, breathing apparati and a remapped ECU to produce an even more prodigious 1,069 pound-feet of torque – although to keep the whole thing from going up in flames, Brabus has limited that last figure to 848 lb-ft. The top speed has been limited to "only" 217 miles per hour to keep the tires from melting, but it'll reach 62 mph from a standstill in just 3.5 seconds. That makes this bahn-stormer blisteringly fast, though the seven-speed automatic transmission and all-wheel drive system have been left largely unchanged. Naturally that's not the end of the story, as the Brabus 850 6.0 Biturbo Coupe also features a full new carbon-fiber aero kit, wheel options ranging from 18 inches to 22, a completely refitted interior and oh, so much more. Chances are you'll never see one sitting still, so you'll want to scope it out in the slideshow of live images from the floor of the Geneva Palexpo for a closer look. Related Video:

2018 wrap-up, Ford Ranger and Mercedes A-Class | Autoblog Podcast #566

In the final Autoblog Podcast of 2018, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. They kick off the conversation by talking about a couple of hot new vehicles: the Ford Ranger and Mercedes-Benz A 220 4Matic. Then they round up the biggest stories of 2018 before helping a listener choose a new car in the "Spend My Money" segment. Thanks for listening, and happy holidays. The Autoblog Podcast will be back next year. Autoblog Podcast #566 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Driving the 2019 Ford Ranger Driving the 2019 Mercedes-Benz A-Class 2018 news roundup The ups and downs of Tesla and Elon Musk Losing Sergio Marchionne and the arrest of Carlos Ghosn Lots of layoffs Trump and tariffs Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: