Daimler wants to save a lot of money on engine development and is therefore expanding its cooperation with its Chinese partner Geely. The first jointly developed engines should be ready from 2024.
Stuttgart (dpa) – The automobile company Daimler is expanding its cooperation with its main Chinese shareholder, Geely.
According to Daimler, both companies plan to develop a new gasoline engine that will be manufactured in Europe and China and then also used in hybrid-powered vehicles.
It is the first collaboration between Daimler and Geely on engines. Both groups have been cooperating in various other areas for a long time.
According to the Stuttgart-based automaker, the jointly developed engines will not only be used in Daimler vehicles, but also in Volvo cars. Geely and Volvo are closely related.
The “Handelsblatt” wrote that plans were to build the first of these new engines in 2024 and then several hundred thousand per year. Daimler did not comment on the details, but only announced that the cooperation was aimed at improving competitiveness. Geely declined to comment. The main shareholder owns 9.7 percent of Daimler shares.
In early October, Daimler announced that it wanted to focus even more on electric mobility than previously announced. They are striving for nothing less than “the leadership position” in electric drives and vehicle software, he said. The group now emphasized that it was continuing its efforts to “convert existing powertrain plants to electric scopes.”