Mercedes-Benz and Geely establish smart brand electric vehicle JV

Mercedes-Benz and Geely establish smart brand electric vehicle JV

January 08, 2020-GreenCarCongress.com

Mercedes-Benz AG and Zhejiang Geely Holding Group (Geely Holding) have formally established the global joint venture “smart Automobile Co., Ltd.” for the smart brand after receiving the regulatory approvals. The total registered capital of the joint venture will be 5.4 billion RMB (US$778 million) to transform smart into a leading player in premium-and intelligent electrified vehicles. As part of the vehicle-development program, the smart product portfolio will be extended into the fast-growing B-segment that are in line with smart’s brand positioning with a focus on pure premium electric and connected vehicles.

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