Daimler AG and Geely (ZGH) have announced the creation of a joint venture with equal participation of both companies in China. The new company will get the rights to the Smart marque and will be responsible for R&D and international sales of Smart cars.
The name of the new company hasn’t been decided upon yet. The necessary documentation should be complete by the end of 2019.
Geely will design all new all-electric Smart cars slated for release in 2022, while Daimler AG will handle design studies. Both partners emphasize that the brand will also begin producing slightly larger B-segment cars in addition to their current A-segment lineup.
Daimler, previously the only owner of the Smart brand, will continue producing all-electric versions of its Fortwo and Forfour vehicles like before. It will permanently cease manufacturing gas-powered Smart models on May 31, 2019.
Photos: Daimler