Mercedes and Geely teamed up to produce Smart models in ChinaJanuary 8, 2020
Both car giants have created a new 50:50 joint venture. Investments in production amounted to about 780 million dollars. Products will be sold in China and Germany.
Chinese giant Geely and Mercedes-Benz have announced the completion of a new joint venture in China. The new company will manufacture smart cars. The production of Smart cars will be moved to China, and from 2022 new models will appear only with an electric drive. Mercedes-Benz will lead the design of future models, and Geely, which already owns brands such as Volvo and Lotus, will lead the development.
Unfortunately, companies have not yet revealed plans for new models. It is known that Smart will take on a new segment of the B-Class. The creation of the joint venture is aimed at the further development of Smart as a “leader in the field of premium and intelligent electric vehicles,” said a joint statement by Geely and Daimler.
Geely Chairman Li Shufu said: “We fully respect the value of the Smart brand,” adding: “As equal partners, we will strive to promote the Smart brand worldwide.”
Until the release of new models in 2022, current Smart cars will continue to be produced at Daimler’s Hamburg factories in France and Novo Mesto in Slovenia.
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