Chinese group Zhejiang Geely Holding Group Co will create a joint venture with the German Mercedes-Benz, which will produce electric cars under the brand smart on the capacity of the plant in Ningbo. Eco-friendly “Smart” Chinese Assembly intended for the markets of China and Germany.
Each of the parties invests in joint venture 2.7 billion yuan (nearly 389 million dollars), and the release of the electric smart will start in 2022. About the “SMARTS” of the new generation know that they will design the Mercedes-Benz designers, and to control the process will be the Board of Directors of six persons – three from each company.
2022 Mercedes-Benz will continue to produce EQ EQ fortwo and forfour at European plants in France and Slovenia. After 2022 on the capacity of French enterprises in the city of Ambah organize the production of electric vehicles line of EQ.
In 2019 Daimler sold half of the shares in smart company Geely, which owns the brands of Geely Auto, Lotus, Lynk&Co, Proton and Volvo.