January 8, Zhejiang Geely Holding Group (hereinafter referred to as “Geely Holding”) and Mercedes – Benz AG (hereinafter referred to as the “Mercedes – Benz”) announces: approved by the relevant regulatory authorities, the two sides the formation of a global joint venture smart brand “Smart motor car Co., Ltd.” (smart automobile Co., Ltd.) was established, joint operations and promote the transformation and upgrading of the smart brand on a global scale.
Joint venture registered capital of 5.4 billion yuan, the two sides will each invest 2.7 billion yuan, Mercedes – Benz AG, mainly to obtain the appropriate financing in the form of smart brand shares. The two sides will achieve synergy in the field of research and development, manufacturing and supply chain, we are committed to smart to build a leading global provider of high-end electric Smart car brand. Joint venture company with global headquarters in China Ningbo Hangzhou Bay New Area, set up marketing centers in China and Germany.
by a whole new generation of electric smart Mercedes – Benz global design department responsible for the design, Geely Holding Global Research Center is responsible for research and development projects. The new models will be produced in China’s new factory is expected to begin in 2022 on the market and sold worldwide. According to the new models of development planning, smart future product lineup will be extended to the fast-growing compact segment, the brand positioning is very consistent and smart.
joint venture board of directors will be composed of six members, the two sides each appoint three. Geely Holding representatives Mr. Li Shufu, chairman of Geely Holding Group, Geely Holding Group President, Geely Automobile Group CEO, Mr. Conghui president of Geely Holding Group Executive Vice President, CFO Mr. Li Donghui; party on behalf of Daimler Daimler AG Board members, Mr. Tang Shikai (Hubertus Troska) responsible for Greater China business, Daimler AG board member, Mercedes – Benz AG board member responsible for sales and marketing, Ms. Bei Sige (Britta Seeger), Daimler AG board member, Mercedes – Benz AG board member responsible for Group research and Mercedes – Benz passenger cars developed by Marcus middot; Mr. Shafer (Markus Schauml; fer).
joint venture decided to appoint Mr. Tong to the North of the joint venture smart global CEO, he will co-ordinate marketing, sales, research and development and other smart brand all business modules, smart reporting to the joint venture board of directors. He has over 20 years of experience in the automotive industry, had worked in China and the United States more than the world’s leading automotive companies.
Chairman of the Board of Daimler AG and Mercedes – Benz AG Chairman of the Board of Directors Kang Linsong (Ola Kauml; llenius) said: “The approval by the relevant regulatory authorities, our partners Geely Holding joint preparations for several months the joint venture company is now ready to go. the joint venture will launch the next generation of smart zero-emission electric vehicles in China and the global market. we expect the two sides to continue to work closely with the best products and services to customers around the world. “
[ 123] Zhejiang Geely holding Group chairman Li Shufu said: advantages in the field of Geely holding will R & D, manufacturing, supply chain and other “smart brand has a unique charm, core values and global reach, is a global leader in travel and fashion city traffic. and injected deep understanding of Chinese market joint venture to promote bilateral synergies on the basis of equality and mutual benefit.