Mercedes-Benz’s parent company, Daimler will cooperate with Geely to build next-generation internal combustion engines specifically for hybrid vehicles.
The new engine range will be developed by Daimler, but will be built in both Europe and China.
The alliance was reported by German newspaper, Handelsblatt which said that the Daimler-Geely agreement will save Daimler a “triple-digit million sum.”
Geely already owns a 9.69 percent stake in Daimler, and will take the lead in the engineering for the Smart car brand.
This agreement though will not mean the end of cooperation between Daimler and Renault.
Current engine projects between Renault, Daimler, and Nissan will continue and new opportunities are being studied.
A joint Renault-Daimler 1.3-liter gasoline engine is used in models such as in the Renault Scenic crossover and Megane hatchbacks, and in front-wheel-drive Mercedes models such as the A Class.
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