Tuesday, February 7, 2023
News Chinese Automaker Geely May Buy Half of Smart

Chinese Automaker Geely May Buy Half of Smart

Mercedes-Benz may end up selling part of Smart to Geely.

Chinese automaker Geely is apparently interested in buying distressed Smart brand from Mercedes-Benz.

Smart hasn’t exactly been a cash cow for Mercedes-Benz and Daimler. According to research firm Evercore ISI, the German automaker apparently loses a billion dollars a year on Smart (500 to 700 million euros). Daimler never gave official numbers on Smart, but it’s been widely known for a while around the industry that the brand is not profitable.

Despite the tremendous losses and a limited lineup, Geely seems to think the Smart name has potential. According to the Financial Times, Geely has offered to purchase a 50 percent stake in Smart from Daimler. Nothing is officially announced yet, but FT’s sources say the deal will be announced before the Shanghai Auto Show in April.

Launched in 1998, Smart never really managed to get off the ground. The current Smart Fortwo is exclusively offered with an electric motor and marketed as a city car, but its limited range has proven to be a burden as buyers seek more freedom from their EVs.

The brand’s best year came in 2004 when it sold 4,080 units in Canada. Last year, Smart sold just 264 models. As for Geely, the company has been credited with the rebirth of Volvo while continuing to be a premier automaker in China.

We’re guessing Daimler investors have their fingers cross this deal goes through.

Smart ForEase Concept Images Gallery

smart forease concept
smart forease concept

smart forease concept
smart forease concept

smart forease concept
smart forease concept

smart forease concept
smart forease concept

smart forease concept
smart forease concept


Trending Now

State Farm won’t Insure 15 Hyundai and Kia Models due to High Theft Rates

Many of the automaker’s models made between 2015 and 2021 don’t have an engine immobilizer. A TikTok challenge is at the origin of...

Cadillac 2023 Lineup: Models And Changes Overview

Production of the Cadillac Lyriq has started in very low numbers so far. Flagship Cadillac Celestiq debuted in October 2022 as a 2024...

Renault and Nissan Make their Alliance More Equal, Target South America

The Renault-Nissan-Mitsubishi alliance has been rocky for many years. Renault will cut back its stake in Nissan, while both Japanese companies will take...

The Volkswagen ID.4 will feature in Marvel’s “Ant-Man and The Wasp: Quantumania”

A partnership with Marvel Studios will also see custom content and a red-carpet appearance for the ID.4. The car will be the superhero’s...

Ford to Return to Formula 1 Racing After Over 20 Years

The automaker will provide hybrid powertrains for the Oracle Red Bull Racing and Scuderia Alfa Tauri teams from 2026. Red Bull Powertrains will...
Charles Jolicoeur
Charles Jolicoeur was studying to be a CPA when he decided to drop everything and launch a car website in 2012. Don't ask. The journey has been an interesting one, but today he has co-founded and manages 8 websites including EcoloAuto.com and MotorIllustrated.com as General Manager of NetMedia360. He also sits on the board of the Automotive Journalists Association of Canada. Send me an email


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.