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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.

Mercedes-Benz concept car takes driverless vehicles into the future

A new Mercedes-Benz concept car is looking to give Google a driverless run for their money. Unlike the cars we drive today, the Mercedes-Benz F015 will drive us -- acting as a personal chauffeur so passengers can relax or worry about important things like work, while the automated vehicle worries about the roads. We have to admit, it looks significantly more comfortable than Google's experimental driverless cars. Keeping up with their luxury brand, the car is more of a lounge. Front seats can rotate so passengers can face each other, a touch screen coffee table extends into the middle of the space with just a tap, and touch screen monitors are built into the doors. In case you want to drive the old fashioned way, just swivel around and use the steering wheel and fold away pedals. On the outside, the vehicle communicates with pedestrians and other drivers using lights and vocal cues. If a pedestrian crosses the street in front of the car, a laser will project a crosswalk and a voice will let them know it's safe to cross. The F015 is really just a concept car and will likely never be sold on a car lot, but it may force Google to step up their game. Their current driverless car prototypes look like something out of a retro cartoon, whereas Mercedes' looks like it's straight out of the future. Weird Car News Mercedes-Benz driverless car

Daimler could sell off Li-Tec's EV battery business

Five-plus years may have been about enough time for Daimler AG to know whether it wanted to be in the battery-pack production business. The Mercedes-Benz parent may stop making electric-vehicle batteries and ultimately sell its Li-Tec battery-cell factory in Germany within two years, according to Bloomberg News which cites Manager Magazin. The beneficiary may be LG Electronics, which would likely take over battery-production duties for models such as Daimler's Smart ED battery-electric vehicle. Daimler is taking a number of steps to improve profit margins, which are thinner than those of its German rivals like BMW. Like its German competition, the company has lagged behind companies such as Nissan, Renault and Tesla Motors in terms of aggressively pursuing growth via plug-in vehicle sales. Daimler spokesman Hendrik Sackmann, in an e-mail to AutoblogGreen, would only say that the battery business is growing "rapidly" and that Li-Tec is developing "according to our plans." "Regarding Li-Tec, we are working on a concept for the future line-up," he added. "The battery cells for the successor of the Smart electric drive won't be provided by Li-Tec." Daimler in 2008 launched Li-Tec as a joint venture with Evonik, though Daimler recently put plans together to buy out Evonik's 50-percent share of Li-Tec, Bloomberg reported last month. Evonik's role was manufacturing electrodes and separators for batteries. Daimler also said last fall that it was looking to cooperate more extensively with Tesla in regards to electric vehicle development. The two companies first said they'd work together in 2009. Featured Gallery 2013 Smart Fortwo ED View 16 Photos News Source: Bloomberg NewsImage Credit: Daimler Green Plants/Manufacturing Mercedes-Benz battery