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BMW, Daimler, Volkswagen fined for steel cartel
News
22nd Nov 2019
1 min read

BMW, Daimler, Volkswagen fined for steel cartel

Germany's three major automakers, the BMW Group, Daimler (parent of Mercedes-Benz) and the Volkswagen Group, have been fined a total of €100 million ($163 million) for forming a cartel to buy certain steel products. The Bundeskartellamt, Germany's competition commission, says the three car companies met twice a year with steel makers between 2004 and 2013 to set uniform surcharges for the long steel they purchased. Illegally set prices were in use until 2016.
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Derek Fung
Daimler to be fined up to $1.6 billion for diesel emissions violations - report
News
11th Aug 2019
2 min read

Daimler to be fined up to $1.6 billion for diesel emissions violations - report

Daimler, the parent company of Mercedes-Benz, is reportedly looking at a massive fine due to the use of emissions testing defeat devices on a number of its most popular vehicles. According to Der Spiegel, prosecutors in Stuttgart, Germany, are planning to fine the automaker between €800 million and €1 billion ($1.3 and $1.6 billion).
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Derek Fung
Foton's parent planning to buy a stake in Mercedes-Benz - report
News
14th May 2019
1 min read

Foton's parent planning to buy a stake in Mercedes-Benz - report

BAIC, owner of the Foton brand, is reportedly buying shares on the open market with a view of building a stake of between 4% and 5% in Daimler, parent of Mercedes-Benz. Multiple sources have informed Reuters the BAIC head office indicated its intent to Daimler earlier this year.
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Derek Fung
Geely buys 50 per cent of Smart
News
28th Mar 2019
2 min read

Geely buys 50 per cent of Smart

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Derek Fung
News
28th Mar 2019
2 min read

Geely buys 50 per cent of Smart

Mercedes-Benz 2019, Geely 2019, Smart 2019
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Derek Fung
Smart's future to be decided before the end of 2019 - report
News
25th Mar 2019
2 min read

Smart's future to be decided before the end of 2019 - report

A report from Handelsblatt states Daimler, owner of the Mercedes-Benz and Smart marques, will decide the fate of the city car brand by the end of the year. The decisive moves will take place from May onwards, when Ola Kallenius, currently Daimler's head of research and development, takes over from Dieter Zetsche. While Zetsche has proven to be a keen and patient supporter of Smart, it looks possible Kallenius could pull the plug.
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Derek Fung
BMW and Mercedes-Benz combine mobility services units
News
18th Jan 2019
2 min read

BMW and Mercedes-Benz combine mobility services units

BMW and Mercedes-Benz are the second pair of automakers to confirm a partnership this week, after Ford and Volkswagen announced they will work together on utes and vans. The companies announced their intent to combine mobility divisions last year, but approval from anti-trust regulators has only just come through. Daimler, parent of Mercedes-Benz and Smart, and BMW expect to complete dotting their Is and crossing their Ts for the new 50/50 joint venture by the end of month.
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Derek Fung