Daimler and Geely team up: Daimler has teamed up with Geely to transform its Smart brand into an electric carmaker focused on China's vast market. Under the agreement announced Thursday, the next generation of Smart cars will be assembled at a plant in China with sales starting in 2022. Prior to that, Daimler will continue to produce Smart cars at plants in France and Slovenia. Geely is the right partner to take advantage of these opportunities,"CEO Dieter Zetsche wrote in a blog post. Geely GELYF and Daimler will each own 50% of the global joint venture.

Source: CNN March 28, 2019 10:07 UTC