Cooper Electric Hardtop

Make
Mini
Segment
Hatchback

Mercedes-Benz and Zhejiang Geely Holding Group Company are considering selling a stake in Smart, a joint venture between the two companies. This, according to Bloomberg, comes as the partnership looks to revive the minicar brand as a fully electric carmaker.

Sources close to the matter say Smart, which is worth approximately $5 billion, could attract investment from strategic funds or other carmakers. The company is looking for between $500 million and $1 billion in funding, by selling off a minority stake in the joint venture.

Mercedes-Benz and its Chinese partner would likely use the proceeds generated from the deal to strengthen Smart's image as an electric car maker. In early 2017, the brand announced it would go all-electric in the USA and, just a year later, declared its global lineup would follow suit. Based on the sales success BMW has seen with the Mini Cooper Electric, Mercedes will surely be looking to catch up in the compact segment with comparable offerings from Smart.

Early on in 2020, Mercedes-Benz and Geely announced the $849 million joint venture. As part of the agreement of this automotive pact, the luxury carmaker's design team will style future Smart vehicles, with the engineering taken care of by Geely. Previously made in Europe, production is to move to China where Geely is based.

While production of the EQ ForFour has ended, the company will soon introduce an all-electric SUV. First seen at the Munich Motor Show last year, the Concept #1 is far bigger than anything Smart has ever made before. While some of the details shown on the concept above will definitely be toned down (it's highly unlikely the suicide doors will make it to production) expect the battery-powered SUV to retain its cheeky styling.

Measuring 168.9 inches long and 75.2 inches wide, the Smart isn't far off the size of the Mini Countryman, a potential arch-rival for the upcoming Concept #1. Being an all-electric carmaker, don't expect plug-in hybrid derivatives or anything of the sort; just pure electric power. We'll know more when it launches in Europe and China in 2023.

Hopefully, the upcoming production model will put the ailing brand back on the map, with Mercedes-Benz anticipating that China's youthful, city-bound consumers will give Smart a new lease on life. But first, Merc and Geely must raise some money to make the ailing city car brand a force to be reckoned with in the future. Anyone got a spare billion lying around?