Flexible Thinking: Rules of Thumb—A Word to the Wise
Happy’s Tech Talk #29: Bend-to-Install Semi-flex FR-4
Connect the Dots: Five Best Practices for Designing Flex and Rigid-flex PCBs
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
Indium Technical Expert to Present at SiP Conference China
11/25/2024 | Indium CorporationIndium Corporation Senior Area Technical Manager for East China Leo Hu is scheduled to deliver a presentation on Low-Temperature Solder Material in Semiconductor Packaging Applications at SiP China Conference 2024 on November 27 in Suzhou, China.
Global Sourcing Spotlight: The Best Products to Buy Offshore Through Global Sourcing
11/12/2024 | Bob Duke -- Column: Global Sourcing SpotlightIn the evolving global sourcing landscape, the question isn’t just whether to buy offshore, but what to buy offshore. With advancements in manufacturing technologies, logistical efficiencies, and the global integration of supply chains, certain industrial products have become advantageous to source from overseas. Whether you're looking to cut costs, access specialized manufacturing capabilities, or ensure consistent quality, knowing which products offer the most benefits when purchased offshore is crucial. Here are some of the best products to consider beyond domestic borders.
American Made Advocacy: There's No Substitute for American-made Microelectronics
11/04/2024 | Shane Whiteside -- Column: American Made AdvocacyThe COVID pandemic put a spotlight on the fragility of the global supply chain. Disruption has become the new normal. Companies now see that one political decision or other interruption in Asia could bring the electronics industry to its knees. With 90% of the world’s PCBs and almost all IC substrates made in Asia, the current state of the electronics supply chain continues to present significant risk to the U.S. market.
AIM to Present on High Reliability and Highlight NC259FPA Ultrafine No Clean Solder Paste at SMTA South China Expo & Tech Forum
10/18/2024 | AIMAIM Solder, a leading global manufacturer of solder assembly materials for the electronics industry, is pleased to announce its participation in the upcoming SMTA South China Expo & Tech Forum taking place November 6-7 at the Shenzhen World Exhibition & Convention Center in Shenzhen, China.
Global Citizenship: Our Strength Comes From Working Together
09/25/2024 | Tom Yang -- Column: Global CitizenshipLast time, we discussed the similarities between Chinese and American companies, and I am excited to say that we found many. It made me think about ways companies from both countries and cultures can successfully work together when we put aside our differences and combine our resources. So, I did some research and found these examples.