It was rumored that Daimler was getting ready to shut down the Smart brand, but now the opposite has happened thanks to China’s Geely. Geely has bought a 50 percent stake in Smart from Daimler, which sees the formation of a new partnership that will lead to a new generation of Smart models.
The new partnership will see a new range of electric Smart vehicles debut in 2022, which will be built at a new purpose-built electric car factory in China. The new Smart vehicles will be designed by the worldwide Mercedes-Benz Design network and they will be engineered by Geely. Smart will also expand into the larger B-segment.
“For more than 2.2 million customers, smart represents a pioneer in urban mobility. Based on this success story, we look forward to further enhancing the brand with Geely Holding, a strong partner in the electric vehicle segment,” stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. “We will jointly design and develop the next generation of smart electric cars that combine high-quality production and known safety standards for sale both in China and globally.”