# Mercedes-Benz and Geely Holding formally establish smart Automobile joint venture

Mercedes-Benz and Geely Holding formally established the global joint venture 'smart Automobile Co., Ltd.' with total registered capital of 5.4 billion RMB. The joint venture will develop next-generation premium electric smart vehicles, with first products to launch from 2022.

- Type: Acquisition
- Announced: 2020-09-17
- Where: Hangzhou Bay, Ningbo, China, China
- Value: $800.0M (5.40B CNY)
- Status: completed
- Products: premium electric smart vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Mercedes-Benz](https://endata.com/companies/1875.md) (partner)
- [Zhejiang Geely Holding Group](https://endata.com/companies/24488.md) (partner)

## Sources

- [executive-bulletin.com](https://executive-bulletin.com/automotive/mercedes-benz-and-geely-holding-have-formally-established-its-global-joint-venture-smart-automobile-co-ltd-for-the-smart-brand), 2020-09-17: "Mercedes-Benz AG (Mercedes-Benz) and Zhejiang Geely Holding Group (Geely Holding) today announced that they have formally established the global joint venture 'smart Automobile Co., Ltd.' for the smart brand after receiving the regulatory approvals."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.