Mercedes-Benz and Geely establish smart brand electric vehicle JV

By mmillikin 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. Both parties will equally contribute 2.7 billion RMB, the share of Mercedes-Benz AG will be mainly covered by the contribution of the smart brand.

The global headquarters of the new joint venture has been set in Hangzhou Bay, Ningbo with operational sales functions based in

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