BEIJING/SHANGHAI (Reuters) - Zhejiang Geely Holding Group Co Ltd [GEELY.UL] and Mercedes-Benz on Wednesday said they would each invest 2.7 billion yuan (295.98 million pounds) 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 AG ma
Luxury German carmaker Daimler and Volvo Cars, owned by China's Geely, are considering cooperating to cut the costs of developing combustion engines, a magazine reported on Sunday, citing unnamed company sources. The Automobilwoche weekly cited a Volvo manager as saying there were initial talks with Daimler, but no concrete plans, while a company spokesman said it was too early to talk about firm projects, although it was not excluding anybody. A Daimler spokesman said the company's
BEIJING/HONG KONG/FRANKFURT (Reuters) - Daimler's main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources told Reuters. State-owned Beijing Automobile Group Co Ltd (BAIC), which already owns a 5% shareholding in Daimler, has started buying the German company's shares from the open market, said the sources who were briefed on the matter.
China's Geely continues to invest in the old British sports car brand.
It has already received 26,000 orders for its first model.
One more way automakers are aligning to make EVs profitable and affordable.
528 horsepower from a turbocharged 2.0L I4.
It could mean more volume and new models.
It promises 'a focus on design, technology and performance.'
Expansive Utah Motorsports Campus covers 511 acres.
Rather than own chargers a la Tesla, Volvo will work with FreeWire.
Another strategy to build sales in China
Everybody's building one, so why aren't we soaring over traffic already?
It'll have a lithium-powered hybrid system and other upgrades.