News just in that Geely is buying another car brand, this time its a Daimler’s compact car brand, Smart. The Smart car company has not been doing well despite new innovate stylish products and funky colour combinations.
Smart, which is losing money sold just 130,000 compact cars last year whilst Mercedes -Benz sold a whopping 2.25 million cars.
Daimler and Geely already have a working relationship with a ride-hailing service in China and several other projects.
So far Geely has not responded to this statement and the official announcement should be made at the coming Shanghai Motor Show in April this year.
The 21-year old Smart car business has never seen profits and you are probably surprised how old the Smart brand really is.
