Mercedes-Benz compact car brand smart is now far more promising that it was before thanks to a joint venture between parent company Daimler and Geely, said Mercedes-Benz R&D chief Markus Schäfer, who said that while smart had been successful in terms of customer perception, it failed to be commercially viable, Autocar reported.
It was first reported in March of last year that Daimler had been approaching a deal with Geely for the sale of the former’s 50% stake in the small-car brand, and the two parties announced the formation of a 50:50 joint venture for the ownership and opearation of the smart brand’s model range. Geely became Daimler’s single largest stakeholder following the purchase of a 9.69% stake in the German company in February 2018.
“We need to increase volume. With current volumes, we don’t have scale and we need to be competitive in a world where larger volume, especially in this segment, is extremely important. Working with Geely, we have access to larger scales, Geely’s know-how and close co-operation with Volvo and our know-how of Smart and its history,” Schäfer said.
Both companies are joining forces for product design that is based mainly at Daimler’s headquarters, with teams from both working side-by-side in engineering, he said. “This is a good basis for us to create a scalable platform and enough volume to be successful,” Schäfer noted.
The outgoing fortwo and forfour models have been manufactured at Hambach, France and Novo Mesto, Slovenia respectively. Their successors are due to be introduced later this year, according to Autocar, and a compact SUV is expected to join the compact electric vehicle range in 2022. “We have the genes of the brand, and with engineering and design power, we are off to a good start. Stay tuned,” said Schäfer.
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Even Mesidis admits they will have brighter future with Geely. Those who laff at P1 now have to lick back all their spit. Hahahahahahaha!!!!!
The consumer don’t believe, smart stake holder terpaksa layan their fans high selling say its good JV
lucky Geely China saved proton with their Game-Changing knowledge management. If it isn‘t for Geely, Proton doesn’t have a bright future and most likely will be Game Over
Edited for relevance:
lucky Geely China saved Smart Germany with their Game-Changing knowledge management. If it isn‘t for Geely, Smart Germany doesn’t have a bright future and most likely will be Game Over
Daimler prior 2018: No, we r not going to be partner and sell executive shares to you.
Geely: Bought shares from public market and become largest share holder.
Daimler: Our JV with Geely is important
Them Germans can’t be trusted, just like their Dieselgates.
Hahaha soap opera in automotive corporate world!