Photo: Daimler
Just two years have passed since Chinese company Geely purchased a close to 10 percent stake in German behemoth Daimler, on the heels of the Asians becoming major European players after buying Volvo. At the time, the move was seen as a somewhat aggressive one, and a number of Daimler executives expressed some concern. But all seems to go very well between the two now, considering the many developments of these last years.
Since it became one of Daimler largest shareholders, Geely managed to get its hands on the production of the smart cars of the future, through a joint venture created earlier in 2020. The group also works with Daimler on a new premium ride-hailing service in China, and probably more tie-ups are in the making.
One of these developments was just announced on Friday, November 20. It calls for a “highly efficient powertrain systems for next-generation hybrid vehicle applications“ to be made for Daimler’s main brand, Mercedes-Benz, and Geely’s star Volvo.
More to the point, the two companies are to create a new gasoline powerplant developed for hybrid cars. The vehicles using the new engine will be made both in Europe and in China, and “could be utilized by Mercedes-Benz AG.”
“Our goal continues to be CO2-neutrality. By 2039, our ambition is a completely carbon-neutral new passenger car fleet,” said in a statement Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG.
“We are looking forward to the future; when, together with Volvo’s ICE unit and Geely, we will further extend our synergies in the field of highly efficient drivetrain systems in China and the world. At Mercedes-Benz, the newly established unit Mercedes-Benz Drive Systems will spearhead the project and create cost efficiencies.”
Daimler did not say when it expects the new engine to be ready for rollout.
One of these developments was just announced on Friday, November 20. It calls for a “highly efficient powertrain systems for next-generation hybrid vehicle applications“ to be made for Daimler’s main brand, Mercedes-Benz, and Geely’s star Volvo.
More to the point, the two companies are to create a new gasoline powerplant developed for hybrid cars. The vehicles using the new engine will be made both in Europe and in China, and “could be utilized by Mercedes-Benz AG.”
“Our goal continues to be CO2-neutrality. By 2039, our ambition is a completely carbon-neutral new passenger car fleet,” said in a statement Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG.
“We are looking forward to the future; when, together with Volvo’s ICE unit and Geely, we will further extend our synergies in the field of highly efficient drivetrain systems in China and the world. At Mercedes-Benz, the newly established unit Mercedes-Benz Drive Systems will spearhead the project and create cost efficiencies.”
Daimler did not say when it expects the new engine to be ready for rollout.
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