Zhejiang Geely Holding Group and Daimler AG recently announced the formation of a 50-50 globally focused joint venture to own, operate and further develop Smart, the pioneer of small urban vehicles, as a leader in premium-electrified vehicles.

Under the joint venture agreement, a new generation of Smart electric models will be assembled at a new purpose-built electric car factory in China with global sales due to begin in 2022.

Speaking on the occasion of the signing ceremony, Li Shufu, Geely Holding Chairman, said,“We fully respect the value of Smart. This brand has a unique appeal and strong commercial value. Geely Holding and Daimler look forward to this challenging and exciting new project, through which we will further push the introduction of premium electric products to give a better mobility experience to our customers. As equal partners, we are dedicated to promoting the Smart brand globally; we will leverage our experience and global competencies in brand management, R&D, manufacturing, supply chain management and other areas. The synergies from this cooperation will lead to mutual benefits and will further develop technologies for Smart including connectivity, to continue to lead in the industry.”

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Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, said: “For more than 2.2 million customers, Smart represents a pioneer in urban mobility. Based on this success story, we look forward to further enhancing the brand with Geely Holding, a strong partner in the electric vehicle segment. We will jointly design and develop the next generation of Smart electric cars that combine high-quality production and known safety standards for sale both in China and globally.”

The joint venture partners have agreed that the new generation of Smart vehicles will be styled by the worldwide Mercedes-Benz Design network with engineering from Geely global engineering centers. Future production will be located in China.

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A spokesperson of Towell Auto Centre (TAC), the representatives of Geely in Oman, said, “With Geely’s investments in Volvo, Terrafugia flying cars, Lotus racing cars, London Taxi Company, Smart and Proton, customers can be rest assured that they have the best technology and innovations offered to them. The new joint venture with Daimler to develop Smart vehicles will benefit Geely customers even further.”

With a network of 10 showrooms, 12 service outlets and 10 parts outlets spread across Oman, Towell Auto Centre is one of the leading automobile distributors in Oman.