28 March-- Zhejiang Geely Holding Group and Daimler AG have announced that a joint venture corporation will be founded, to go hand in hand in global operation and promote the transformation of the brand smart.

The joint company, with 50% share holding for each party, will be headquartered in China, and it’s predicted that the end of 2019 will see it take shape. Purely driven by electricity, the whole new generation of smart will depend on the global sector of Mercedes-Benz and the R&D center of Geely Holding Group, responsible for design and engineering R&D respectively, according to the agreement. The new type of car to be will be manufactured in the factory in China, and is expected to be put on sale globally in 2022.

In this connection, the brand smart will be injected by Chinese genes, and Geely Holding Group will also make further expansion again.