China has increased its ownership of German car group Daimler by investing a further $2.8bn (€2.5bn) in the Mercedes-Benz maker.

The increasing proliferation of three-cylinder engines is continuing apace, with Volvo announcing a production programme to develop a lightweight, three-pot petrol engine.

Stockholm: Volvo, the Swedish carmaker owned by Zhejiang Geely Holding Group, will get a 3.55- billion krona (€396.9m) loan from the European Investment Bank, the Swedish government said.