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Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video:

Hydrogen could deliver one fifth of world carbon cuts by 2050, industry says

BONN, Germany — Increasing the use of hydrogen in power, transport, heat and industry could deliver around one fifth of the total carbon emissions cuts needed to limit global warming to safe levels by mid-century, a report by the Hydrogen Council said on Monday. To encourage industries to use hydrogen, Toyota and Air Liquide helped set up the Hydrogen Council, a global lobby launched in January this year. Its 27 members include automakers Audi, BMW, Daimler, Honda and Hyundai, and energy firms such as Shell and Total. The council said using hydrogen for transport, energy generation, energy storage, industry, heat and power could cut annual carbon emissions by 6 billion tonnes by 2050. "This would ... contribute roughly 20 percent of the additional abatement required to limit global warming to two degrees Celsius," the council said in a report released on the sidelines of a U.N. climate conference in Bonn. To achieve a two-degree limit this century agreed by governments in Paris in 2015, the world must reduce energy-related carbon emissions by 60 percent by 2050. The report said one in 12 cars sold in California, Germany and Japan were expected to be powered by hydrogen by 2030. By 2050, hydrogen could power 400 million cars, 15 million to 20 million trucks, around 5 million buses, a quarter of passenger ships and a fifth of non-electrified train tracks, as well as some airplanes and freight ships. Achieving this shift in transport and other sectors would require investment of $280 billion by 2030, with about $110 billion to fund hydrogen output, $80 billion for storage, transport and distribution, and $70 billion to develop products. Fuel cell vehicles combine hydrogen and oxygen to produce electricity to power an electric motor, producing water as a byproduct. However, making hydrogen from fossil fuels, a common route, also produces some greenhouse gas emissions. So far the take-up of hydrogen vehicles is tiny and industry experts say their wider use is years away, with high purchase prices and a lack of refueling stations the major barriers. But some firms, such as miner Anglo American and carmaker Toyota, are pushing for fuel cell cars to play a role even with the rise of battery-powered electric vehicles (EVs). Woong-chul Yang, vice chairman of automotive research and development at Hyundai said EVs and hydrogen fuel cell cars were needed because EVs were better for city driving and fuel cell vehicles better for longer journeys.

Mercedes-AMG GT pressed into service as DTM safety car

DTM is one of the most competitive, fast-paced touring car series in the world. So to set the pace, the marshals need a pretty fast car as well. And that's just what they got with the new Mercedes-AMG GT pictured here. Marking its debut at the Lausitzring speedway this weekend, the AMG GT S safety car is based closely on the road-going model, but like the version that's already in use in Formula One, it's been modified for safety-car duty. That means a low-profile light bar mounted to a carbon-fiber air scoop on the roof – both tested in a wind tunnel – as well as the front splitter and rear wing from the optional Aerodynamics package, and the optional upgraded rolling stock. Inside it's got racing buckets, six-point harnesses, a flat-bottom steering wheel, and special radio equipment. Otherwise it's essentially the same as the road-going model, right down to the 4.0-liter twin-turbo V8 and seven-speed dual clutch transmission. After all, with 510 horsepower on tap, it ought to be able to stay out ahead of the 490-hp touring cars currently competing in DTM. The new safety car replaces the C63 AMG Black Series coupe that Mercedes previously contributed to the effort, and will alternate with the vehicles furnished by rivals Audi and BMW from race to race. Related Video: Mercedes-AMG GT S: new Safety Car for the DTM: From Formula 1® to the DTM Affalterbach. A new Safety Car celebrates its DTM premiere: at the second DTM race at the EuroSpeedway Lausitz (29 to 31 May 2015), the Mercedes-AMG GT S is set to be deployed for the very first time. The new sports car will help to ensure maximum safety on the race track in the world's most popular touring car series. In technical terms, the 375 kW (510 hp) eight-cylinder sports car is for the most part the same as the series production vehicle – just like its counterpart from the FIA Formula 1 World Championship™, the Official Safety Car. In its road-going guise the Mercedes-AMG GT S has turned heads since its market launch in March 2015 and now the sports car is also taking to the DTM stage. The new season of the German Touring Car Masters (DTM) got under way during the first weekend of May in Hockenheim. The second DTM race taking place at the EuroSpeedway Lausitz at the end of May will see the Mercedes-AMG GT S make its first appearance as the official Safety Car.