It’s Only Common Sense: Be the Solution, Not the Problem
American Made Advocacy: Long-time Challenges Confront a New Administration
Marcy's Musings: It's Show Time!
Geely, Mercedes-Benz Launch $780 Million JV to Make Electric Smart-Branded Cars
January 9, 2020 | ReutersEstimated reading time: 1 minute
Zhejiang Geely Holding Group Co Ltd and Mercedes-Benz on Wednesday said they would each invest 2.7 billion yuan ($388.77 million) 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 marque.
The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said.
The partners will each have three executives on the board of directors, with Geely’s Tong Xiangbei becoming the venture’s global chief executive.
Geely has expanded rapidly through mergers and acquisitions since buying Sweden’s Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker.
Its latest announcement comes just over a month after China’s Great Wall Motor Co Ltd and Germany’s BMW AG formed a venture to build electric Mini-branded cars in China, the world’s biggest market for electrified vehicles where demand for smaller EVs is on the rise.
Share on:
Suggested Items
SEMICON China 2025 to Highlight Key Opportunities and Challenges in Advancing Semiconductor Industry Growth
03/07/2025 | SEMISEMICON China 2025 will gather industry visionaries and leaders from March 26-28 at the Shanghai New International Expo Centre to delve into the latest developments, trends, and innovations in key areas crucial for propelling industry growth to $1 trillion by 2030.
China’s Supply Chain Reshaping the Global Traction Inverter Industry, Huawei Ranks among Top Five Suppliers
03/04/2025 | TrendForceTrendForce’s latest report reveals that global EV traction inverter installations reached 8.67 million units in 4Q24, marking a 26% QoQ increase.
Humanoid Robots to Become the Next US-China Battleground, with Price Differentiation and Tiered Applications as Emerging Trends
02/24/2025 | TrendForceGovernment worldwide are ramping up investments in robotics R&D as labor shortages and rising costs persist. TrendForce reports that China, Japan, the US, South Korea, and Germany have consistently ranked among the top five countries for industrial robot installations and are expected to continue executing over US$13 billion in related projects by 2025.
Fresh PCB Concepts: Tariffs and the Importance of a Diverse Supply Chain
01/28/2025 | Team NCAB -- Column: Fresh PCB ConceptsWith the new Trump administration, we anticipate an increase in tariffs on products from China, including printed circuit boards (PCBs). The current U.S. tariffs on PCBs from China is 25%, with two-layer and four-layer boards excluded from the tariffs until May 31, 2025. I’ve recently received a lot of questions about tariffs, even from the engineering end. While we are uncertain what the future will hold, this situation illustrates why it’s important to have a diverse supply chain.
The Promising Future for CEE PCB in Thailand
01/22/2025 | Nolan Johnson, SMT007 MagazineTom Yang, CEO of CEE PCB, understands the importance of collaboration between U.S. and Chinese fabricators. He believes that to understand the current political and economic conditions between the two countries, we must maintain a level of international business cooperation. In this interview, we discuss market conditions under a new U.S. administration, how companies like CEE are responding to potential changes, and CEE’s strategic move into Thailand.