Daimler and Geely form global joint venture to develop Smart
Zhejiang Geely Holding Group and Daimler today announced the formation of a 50-50 globally focused joint venture to own, operate and further develop Smart.
The announcement confirms the rumors leaked yesterday. Under the joint venture agreement, a new generation of smart electric models will be assembled at a new purpose-built electric car factory in China with global sales due to begin in 2022.
The joint aims to further develop the pioneer brand of small urban vehicles as a leader in premium-electrified vehicles.
The joint venture partners have agreed that the new generation of smart vehicles will be styled by the worldwide Mercedes-Benz Design network with engineering from Geely global engineering centers. As part of the vehicle-development program, the smart product portfolio is also planned to be extended into the fast-growing B-segment.