Official announcement: Geely and Mercedes-Benz set up a Smart joint venture company: Smart Motor Automobile Co., Ltd.

On October 8th, 65438/kloc-0, Mercedes-Benz AG (hereinafter referred to as "Mercedes-Benz") and Zhejiang Geely Holding Group (hereinafter referred to as "Geely Holding Group") announced that with the approval of relevant regulatory authorities, the global joint venture "smart Motor Automobile Co., Ltd." was formally established, and the joint venture company will jointly operate and promote the transformation and upgrading of the smart brand on a global scale.

Smart is a mini-car jointly developed by Mercedes-Benz and Swatch, Switzerland, which is popular all over the world because of its iconic shape. According to the information released by both parties on the same day, the registered capital of the joint venture company is 5.4 billion yuan, and both parties will each contribute 2.7 billion yuan. Mercedes-Benz Company mainly obtains corresponding shares in the form of smart brand investment. The two sides will play a synergistic role in R&D, manufacturing, supply chain and other fields, and strive to make smart a leading high-end electric smart car brand in the world. The global headquarters of the joint venture company is located in Hangzhou Bay New District, Ningbo, China, with marketing centers in China and German respectively.

According to the new car development plan, smart's future product lineup will expand to the fast-growing compact market segment, which is very consistent with smart's brand positioning. The board of directors of the joint venture company will be composed of six members, with three appointed by each party.

Representatives of Geely Holding Party are Li Shufu, Chairman of Geely Holding Group, An Conghui, President of Geely Holding Group, CEO and President of Geely Automobile Group, and Li Donghui, Executive Vice President and CFO of Geely Holding Group.

The representative of Daimler is Tang Shikai (Huberts? Troska), member of the board of directors of Daimler AG, member of the board of directors of Mercedes-Benz AG, and Breta, who is in charge of sales and marketing? Seeger), member of the board of directors of Daimler AG, member of the board of directors of Mercedes-Benz AG, Marcus Schaefer (Markus? Schfer).

A new generation of high-end electric? Smart? The model will be designed by Mercedes-Benz Global Design Department, and Geely Global R&D Center will be responsible for engineering research and development. The new model will be produced in a brand-new factory in China. 2022? It was put on the market in and sold all over the world.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.