The new global smart joint venture between Geely Holding (Geely) and Mercedes-Benz AG (Mercedes-Benz), formally registered as 'smart Automobile Co. Ltd.' (smart) in Hangzhou Bay, Ningbo, China at the end of 2019 has established 'smart Europe GmbH' (smart Europe) as a wholly owned subsidiary to supply, sell and service future smart vehicles in the European market, Daimler AG informed.
The smart brand, a global pioneer in urban mobility, a new all-electric vehicle architecture, will become the foundation for smart's entry into the premium B-segment range with its first products tentatively set to launch from 2022.
Xiangbei Tong is appointed as Chief Executive Officer. Daniel Lescow has been appointed Vice President of Sales, Marketing and After Sales. Jun Yang will take charge of technical development as Vice President Research & Development. Ulf Nestler will serve as the Vice President Finance and Chief Financial Officer.
As a wholly owned subsidiary, smart Europe will be located in Leinfelden-Echterdingen, Stuttgart. With an international team, the newly established company will manage all Sales, Marketing and After-Sales activities of the next generation of smart vehicles, products and services in the European markets.
Daimler AG is a multinational automobile manufacturer headquartered in Stuttgart (Baden-Wuerttemberg), Germany. Net profit of Daimler for the first quarter of 2020 fell 12.8 times to EUR 168 million from EUR 2.149 billion a year earlier. Revenue decreased by 6% to EUR 37.2 billion from EUR 39.7 billion. EBIT was EUR 617 million against EUR 2.798 billion
JSC Mercedes Benz RUS is a Russian company, a subsidiary of Mercedes-Benz AG. Daimler AG was the first foreign automobile company to establish a subsidiary company (CJSC Mercedes Benz Automobiles) in the Russian Federation (opened on December 8, 1994).
Mercedes Benz RUS is the only official importer of Mercedes Benz passenger cars and light duty vehicle into Russia.
