10 Stories

Daimler Shareholders Brawl—Over Sausages

Daimler investor was trying to hoard links from the buffet to bring home

(Newser) - It was the best of times, it was the wurst of times at Daimler AG's annual shareholder meeting Wednesday in Berlin, where an argument disrupted the get-together, the Guardian reports. "We had to call the police to settle the matter," says Daimler board chair Manfred Bischoff of... More »

Vatican Gets New Popemobile

New dome said to be higher, roomier than old model

(Newser) - German automaker Daimler says it has delivered Pope Benedict XVI his new popemobile—a customized Mercedes-Benz M-Class SUV with special security features. The company says the new car was delivered today to the Vatican and people should be able to see the pope riding in it tomorrow in Rome during... More »

Mercedes, Toyota Use Laptop Batteries in Electric Cars

Automakers adopting once-derided Tesla technology

(Newser) - When Tesla Motors first tried powering cars with a bundle of laptop batteries, the industry laughed. But now, other automakers are lining up to use the technology. Mercedes plans to produce a new version of its A-Class this fall with two Tesla batteries, each containing about 2,000 individual batteries... More »

UAW to Own 55% of Chrysler

(Newser) - The United Auto Workers are about to own Chrysler. In exchange for a variety of concessions, the union will eventually get a 55% majority share in the automaker, according to a summary of the restructuring deal, which was sent to union leaders late last night and reviewed by the Wall ... More »

Bailout Would Help German Giants, Too

Detroit bankruptcies would ripple through entire industry's supply chain

(Newser) - German giants BMW and Daimler are rooting for a bailout of the Big Three, since a bankrupt Detroit would devastate sales and cripple parts-makers they all share, Bloomberg reports. The US is the top market for BMW, No. 2 for Daimler’s Mercedes-Benz. Meanwhile, Fiat, Peugeot, and Renault—which compete... More »

London's Stodgy Cabs Get Overhaul

Classic black taxis could be phased out for minivans

(Newser) - London's black cabs, with their jump seats and garrulous drivers, are one of the emblems of the city. But they're also gas-guzzling polluters, reports the New York Times, so this month the eco-conscious British capital is introducing a new taxi to its streets: a minivan designed by Mercedes that bears... More »

30K Americans Ordered... This?

Daimler's new fuel-savvy car in high demand before 2008 release

(Newser) - American orders for a new fuel-smart car are already swamping its German manufacturer, the AFP reports. Some 30,000 Americans have already put down $99 on Daimler's Smart Fortwo in anticipation of its January arrival—but some analysts say the tiny two-seater will end up parked in a country that... More »

"Vulture Fund" Behind Chrysler Deal

(Newser) - Der Spiegel vivisects Cerberus, the private equity group that won Chrysler for a relative bargain today from German auto giant Daimler. Financier Stephen Feinberg's 15-year-old firm has $60 billion in assets, and specializes in companies on the brink of bankruptcy. The group avoids the spotlight, recruits former CEOs and politicians,... More »

Daimler to Unload Chrysler in $7.4B Deal

German firm keeps minority stake in American auto giant

(Newser) - DaimlerChrysler has sold a majority stake in the Chrysler Group to the American private-equity firm Cerberus for $7.4 billion, the auto giant announced today. The deal unhooks the money-losing American arm of the international conglomerate from its German partner, which will retain a 19.9% stake in Chrysler and... More »

Kerkorian Offers $4.5 Billion For Chrysler

Dumped his shares last time around; now is ready with cash

(Newser) - Beverly Hills billionaire Kirk Kerkorian has offered to buy the Chrysler group for $4.5 billion. Kerkorian's investment company, Tracinda Corp., can pay cash for the ailing automotive giant, and is pitching an extra $100 mil for an exclusive two-month period to run due diligence. Tracinda told parent DaimlerChrysler it... More »

10 Stories