Mercedes New Smart Brand Cars
Intelligent New Electric Vehicles
Daimler's Mercedes-Benz just announced that it will build Smart branded cars with China's Zhejlang Geely Holding Group in the Chinese city of Ningbo. The partners will operate from a facility with the capacity to build about 150,000 cars per year. In 2019, Smart delivered 116,800 vehicles globally.
$780 Million Investment
Each company is investing $388.8 million into the Joint Venture. They'll build "premier and intelligent" electrified vehicles under the Smart brand name, which is a Mercedes-Benz brand. They'll manufacture in China and have sales operations in both Germany and China.
Mercedes Building Base in China
China is the world's largest market for electric vehicles and the Chinese government is pushing and supporting EVs. Like other global automakers such as Tesla, Stuttgart-based Mercedes is building a base in China. Besides the new partnership with Geely, Mercedes partners with BAIC Group to build luxury Mercedes-Benz cars in Beijing. It also builds trucks in China with a BAIC division.