AMG Market News/Daimler Press Release – Stuttgart, Nov. 16: Mercedes-Benz will enter the Formula 1 World Championship with its own team, beginning with the 2010 season, and Daimler AG and McLaren Group will change their form of cooperation with effect as of 13 November 2009. This was announced by Daimler AG today.

Daimler AG together with Aabar Investments PJSC will take over 75.1 per cent of the Brawn GP team, with Daimler taking 45.1 per cent and Aabar 30 per cent. The rest of the 24.9 per cent will remain with the current stakeholders. With 9.1 per cent, Aabar is the biggest single shareholder of Daimler AG. This transaction is subject to the approval of the EU and the Swiss cartel authorities.

The background to this decision are the new terms and conditions for Formula 1. The “Resource Restrictions” set by FOTA and FIA effectively limit expenditure for the design, construction and running of the racing cars. In addition, there will be a significantly higher income available for a Formula 1 team generated by the commercial rights of the racing series following the signing of the new Concorde Agreement.

The partnership between McLaren Mercedes has been in place since 1995 and ended its 15^th joint Formula 1 season in 2009. The change to the form of cooperation is taking place by mutual agreement. Mercedes-Benz and McLaren will continue to co-operate with each other and the supply of engines could continue until 2015. Continue reading » »

Daimler announced the receipt of the “Golden Steering Wheel” award presented by Auto Bild and 25 associated European publications. Here’s the official press release and AMG SLS photos in our gallery:

More than a quarter of a million readers took part, and voted the new Mercedes-Benz SLS AMG the world’s best super sports car by a wide margin. Accordingly “Bild am Sonntag”, “Auto Bild” and 25 associated European publications awarded the new Gullwing model the “Golden Steering Wheel” – one of the most important automotive awards in Europe. This coveted award was officially presented to Dr. Dieter Zetsche, Chairman of Daimler AG and CEO of Mercedes-Benz Cars, in Berlin yesterday evening.

Eleven super sports cars competed in the large-scale reader’s vote for the “Golden Steering Wheel” award, which “Bild am Sonntag” and the motoring magazine “Auto Bild” organized on a Europe-wide basis for the first time this year. Almost one third of all votes were cast in favor of the new Mercedes-Benz SLS AMG, which therefore headed the readers’ popularity list in the super sports car category by a wide margin over the runner-up.

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Daimler’s interest in battery systems, electric drive systems and related vehicle projects leads to the automaker acquiring nearly 10 percent of one of the leading electric vehicle companies, Tesla Motors Inc. This investment deepens the relationship between the inventor of the automobile and the newest member of the global auto industry. Tesla is the only production automaker selling a highway capable electric vehicle in North America and Europe.

The two companies have already been working closely to integrate Tesla’s lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler’s electric smart car. In order to benefit from each other’s know-how, the investment enables the partners to collaborate even more closely on the development of Continue reading » »