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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.

Tech of the Year special, plus we drive the hydrogen Mirai and more | Autoblog Podcast #809

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick and Road Test Editor Zac Palmer. They kick the discussion off by talking about what they've been driving as of late, including the Toyota Mirai, Dodge Hornet, Alfa Romeo Tonale and a trio of subcompact SUVs. After that, they dive into a discussion about the 2023 Autoblog Technology of the Year award winner, which is Mercedes-Benz's Dolby Atmos Spatial Audio. Once they wrap up that segment, we get to hear the crew's latest Cybertruck takes from before the big reveal. Finally, the show wraps up with a fun Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #809 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving 2023 Toyota Mirai 2023 Dodge Hornet 2024 Alfa Romeo Tonale 2024 Chevy Trax 2024 Kia Seltos 2024 Mazda CX-30 Turbo Technology of the Year winner and breakdown News Cybertruck preview Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Chevrolet Dodge Kia Mazda Mercedes-Benz Toyota Technology Infotainment Technology of the Year Crossover SUV Electric Luxury Performance Sedan Podcasts

Mercedes-Benz Concept GLC Coupe comes to China ready to fight BMW's X4

There's little denying that small crossovers are hot right now. Not only are automakers scrambling to exploit the popularity of the market, they're doing so by offering unique twists on the traditional two-box body style – enter the coupe-like four-door CUV. BMW, for example, has the X4, and now, Mercedes-Benz is bringing a challenger of its own. While it wears the concept name, the new GLC Coupe clearly foreshadows a production model that'll duke it out with the aforementioned BMW. If the vehicle shown above is any indication, when that fight happens, Mercedes will enter it with design on its side. The sheetmetal is muscular, with strong lines on the profile and the hood, while major themes in the front, back and sides are reminiscent of higher-end Silver Arrows. While we doubt the production GLC Coupe will be much of a trail bomber, fore and aft scuff plating is there to give the impression it can handle itself off road. Also, we feel obligated to give Mercedes bonus design points for the diagonally stacked quad exhausts at the back. It's worth noting that the Concept GLC Coupe's styling previews not one but two production vehicles, as it's logical to assume the design language featured here will have a strong influence on the next GLC (the crossover formerly known as the GLK). Not only will the GLC Coupe have aesthetics on its side, at 15.5-feet long and riding on a 111.4-inch wheelbase, it's larger than its rival from Munich, too, although only just. The X4 is two inches shorter overall and has an extra 0.8 inches between the axles. The Benz is wider, too, at 78.7 inches, compared to 74.1. Lending credence to the Concept GLC Coupe's production status, Mercedes released a pretty substantial array of technical details on its new four-door, coupe-crossover. With a twin-turbocharged, 3.0-liter V6 punching out 367 horsepower and 387 pound-feet of torque, we're betting this would be the AMG Sport variant, rather than your everyday GLC. 4Matic all-wheel drive is a must-have in this segment, and it's present here, while a nine-speed automatic transmission is responsible for distributing power. The Concept GLC Coupe will be shown this week at the 2015 Shanghai Motor Show. Check back then for more. Mercedes-Benz Concept GLC Coupe The next coup Stuttgart / Shanghai. In a flowing transition, Mercedes-Benz lands the next coup: the Concept GLC Coupe is a near-production-standard study that carries the successful GLE Coupe formula over into a more compact segment.