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Smart brand will be built in China as a Daimler-Geely joint

FRANKFURT/BEIJING — Daimler will build its next generation of Smart electric cars in China through a joint venture with Geely, as a way to increase economies of scale in a market segment that is struggling to turn a profit. China's Geely built a stake of almost 10 percent in Daimler last year, saying it wanted to forge an alliance to develop electric and self-driving cars to better compete against new challengers such as Uber and Google. Daimler said on Thursday it would build the next generation of Smart-branded city cars at a purpose-built factory in China, and planned to share its expertise in manufacturing, engineering and design with Geely. The high cost of electric car batteries has made it hard for automakers to build affordable zero-emissions vehicles, leading several of them to strike alliances with Chinese partners. Daimler's German rival BMW recently unveiled plans to build electric Minis in China, where production costs are low and demand for small electric cars is rising. Daimler and Geely did not disclose financial terms of their deal. The details of the joint venture will be finalized by the end of 2019, they said in a joint press release. Daimler currently develops and builds Smart cars with Renault at factories in France and Slovenia. The Daimler factory in Hambach, France, will be retooled to build Mercedes-Benz cars. Geely has been expanding rapidly through mergers and acquisitions since 2010, when it acquired Swedish carmaker Volvo from Ford. Last year, Daimler and Geely set up a ride-hailing joint venture in China. Daimler's Chief Executive Dieter Zetsche said last month the German carmaker was in talks to deepen its alliance with Geely after the Chinese's group's chairman Li Shufu bought a 9.69 percent stake in Daimler in 2018.

Aston Martin and Mercedes-Benz expand collaboration

Aston Martin on Tuesday expanded a deal with Daimler to access the German automaker's technology, including its hybrid and electric drive systems, in exchange for new shares as the struggling British luxury carmaker's new boss drives changes. The company will place 250 million new shares with new and existing institutional investors at 50 pence (currently around 65 cents) a share, said the 107-year car maker that hired Tobias Moers, former CEO of Mercedes-AMG, to become its boss from August. The new shares issued would increase the size of Mercedes-Benz's stake to no more than 20% by 2023 from the current 2.6% in several stages. "We take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level with them becoming one of the Company's largest shareholders," said Chairman Lawrence Stroll. The German firm would get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase. The James Bond car maker, which has started deliveries of its first sport utility vehicle, the DBX, reported third-quarter adjusted core loss of 29 million pounds compared with a profit of 43 million pounds last year and revenue that nearly halved to 124 million pounds. Related Video:

Mercedes previews GLC ahead of June 17 reveal

Mercedes has confirmed that it will unveil its new GLC crossover on June 17, releasing this preview sketch and a few details to give us an idea of what to expect. Set to replace the outgoing GLK, the GLC will slot in between the GLA and GLE (nee M-Class) in the Silver Star automaker's growing sport-ute lineup. Its nameplate shifts to better align with the C-Class sedan and the SLC roadster that's set to replace the SLK. The crossover's design was previewed in slant-back form as the Concept GLC Coupe in Shanghai a couple of months ago, but as you can see from this sketch, it'll initially come with a more conventional roofline. In announcing the livestream of its reveal, Daimler revealed that the GLC will feature a multi-chamber air suspension, Dynamic Select transmission control, and 4Matic all-wheel drive. It also promises to consume 19 percent less fuel than the GLK it replaces. World Premiere Mercedes-Benz GLC With the introduction of the new GLC on June 17th, Mercedes-Benz presents the second generation of its mid-range SUV. The GLC retains its predecessor's outstanding off-road characteristics and combines them with an all-new design. What is more, the GLC takes comfort and agility to a whole new level: With the innovative multi-chamber air suspension AIR BODY CONTROL, unique to the segment, DYNAMIC SELECT and the 4MATIC permanent all-wheel drive, the new GLC is tailor-made for all driving situations on and off the road. State-of-the-art assistance systems and improved energy efficiency further support the new GLC's claim of setting a new benchmark in this segment. Compared to its predecessor, fuel consumption was lowered by up to 19%.