Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

2025-07-16

iPhone 17 Pro May Return To Aluminum Alloy Body

2025-07-16

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16
Facebook X (Twitter) Instagram
Trending
  • Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»Featured Posts»Mercedes and Geely In R11bn JV To Build Electric Smart Cars
Featured Posts

Mercedes and Geely In R11bn JV To Build Electric Smart Cars

Gugu LourieBy Gugu Lourie2020-01-08No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Merc
Merc. Photo by Tobias A. Müller on Unsplash
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Mercedes-Benz and Geely announced that they have formally established the global joint venture “smart Automobile Co., Ltd” to build electric smart cars.

The JV, which is valued at $780 million (R11 billion), has received regulatory approvals.

The new generation of smart vehicles will be designed by the worldwide Mercedes-Benz Design network and developed by the Geely global engineering network.

The companies said in a statement that future production will be located in China.

The global headquarters of the new joint venture has been set in Hangzhou Bay, Ningbo with operational sales functions based in China and Germany.

Tong Xiangbei has been appointed the new global CEO of the smart joint venture and will oversee all operations relating to the brand including sales, marketing, R&D, production and after sales. Tong has more than two decades of experience in automotive industry. Before joining the smart joint venture, he has worked for global automotive OEMs both in the United States and in China.

“The joint venture will bring the next generation of zero-emission smart electric cars to the Chinese and global markets,” said Ola Källenius, Chairman of Daimler AG and Mercedes-Benz AG.

“We look forward to continue our collaboration to bring desirable products and services to customers around the world.”

Li Shufu, Geely Holding Chairman said the smart brand has a unique value and global influence, it has grown to be a leader in urban mobility.

“Geely Holding will fully support the smart brand with its full advantages in R&D, manufacturing, supply chain and other fields into the joint venture and support its development in China and globally.

“We will work together with Mercedes-Benz to transform the smart brand into a leading player in urban premium, electric and connected vehicles to successfully develop the brand’s global potential.”

Electric Smart Cars Geely Mercedes Benz Tong Xiangbei
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Gugu Lourie
  • Website

Related Posts

Opulence Refreshed: The Mercedes-Benz GLS And Mercedes-Maybach GLS

2024-04-03

Find The Best Live Dealer Casino Games In South African 2022

2022-12-06

World First: Mercedes-Benz and Bosch Driverless Parking System Approved For Commercial Use

2022-11-30

Huawei Embarks On Programme To Upskill 1000 Solar Practitioners In Sub-Saharan Africa

2022-11-25

Mineworkers Investment Company Invests Another R150 Million Into Black-Owned Telcos

2022-07-12

Differences Between MT4 and MT5 Trading Platform

2021-12-09

The Seven Top Phones To Buy In Early 2022

2021-11-29

Mercedes-Benz Cars Will Have Dolby Atmos Music In 2022

2021-10-29

What is VodaTrade, And How Can It Benefit You As A Merchant?

2021-06-22
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

Despite facing ongoing challenges, South Africa’s supply chain sector is experiencing growth fuelled by a…

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16

How Agri-Tech Is Powering South Africa’s Cannabis Boom

2025-07-15

Ithuba Challenges Lottery Licence Award

2025-07-14
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

Fuse Lit: SA’s U.S. Tech Bomb ‘Nears Detonation’

2025-07-16

US Denies Mcebisi Jonas’ Visa, Rejects Credentials As Ramaphosa’s Envoy

2025-07-15

Takealot Expands Pickup Points At Pick n Pay For Shopper Convenience

2025-07-14

DA Urges President: Fire Minister Nkabane Now – Open Letter

2025-06-25

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

2025-07-16

iPhone 17 Pro May Return To Aluminum Alloy Body

2025-07-16

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16
Recent Posts
  • Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector
  • iPhone 17 Pro May Return To Aluminum Alloy Body
  • LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs
  • Fuse Lit: SA’s U.S. Tech Bomb ‘Nears Detonation’
  • Gwede Mantashe Named Acting Minister Of Police
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2025 TechFinancials. Designed by TFS Media.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.