2004 Volvo Xc90 T6 Wagon 4-door 2.9l on 2040-cars

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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Volvo teases mysterious new small crossover

The image you see above is just about all we know of the new Volvo crossover that will be revealed at 8:30 pm Central European Time on May 17 (2:30 pm Eastern Standard Time). Volvo released three very short video teasers, all with the tagline "Leave The World Behind," all of which feature a member of the now-defunct band Swedish House Mafia - Axwell sits in a boat in the first, Sebastian Ingrosso walks toward cabin in the second and Steve Angello stares at the sea in a third.
A microsite, www.leavetheworldbehind.com, accompanies the teasers and it's been said that a short film by Lune will feature the band - Swedish Mafia had a hit in 2009 with the song Leave the World Behind. As for the vehicle, theories are that it could be something between the V40 Cross Country and XC60, the new XC90 or something else entirely. We don't have long to wait, and you can watch both teasers below.

Ford F-150 Raptor R, Kia Telluride and SEMA highlights | Autoblog Podcast #754

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Associate Editor Byron Hurd. Byron has been sending the 2023 Ford F-150 Raptor R on the sand dunes of Lake Michigan. John has been off-roading in the updated 2023 Kia Telluride. Greg has been spending time in the Toyota Tacoma TRD Pro, Chevy Traverse High Country and Volvo V60 Cross Country. Next, they talk about the news, include SEMA highlights and the reveal of the 2023 Ford Transit Trail. Finally, they reach into the mailbag and discuss the Cadillac Celestiq's design. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #754 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 Cars we're driving Ford F-150 Raptor R Kia Telluride Toyota Tacoma Chevy Traverse High Country Volvo V60 Cross Country 2023 SEMA Show highlights 2023 Ford Transit Trail revealed Mailbag: Cadillac Celestiq 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: