Zhejiang Geely Holding Group Co will allow Mercedes to produce Smart-branded cars on its new factory in Ningbo, China, which should be ready by 2022.
Both companies will be investing 2.7 billion Yuan ($390 million USD) into the project, which is quite impressive even by automotive industry standards. The cars will be mainly sold in China and Germany.
In the meantime, the next-generation Smart remains a bit of a dark horse. It is official that Germany, and not China, is responsible for its design and tech. A board of six directors, including three Mercedes and three Geely representatives, supervises the project.
The EQ ForTwo and EQ ForFour will continue to be assembled in Slovenia and France until 2022. Later on, Mercedes-Benz will begin producing cars from the EQ lineup in Hambach, France.