Daimler buys 10% stake in Tesla Motors

Daimler buys 10% stake in Tesla Motors

Tesla Roadster Brabus fq

During a recent press conference held at the Mercedes-Benz Museum in Stuttgart, Dr. Thomas Weber, the head of research and development for Mercedes-Benz, announced that Daimler is buying a 10% stake in Tesla Motors. Tesla CEO Elon Musk was also present for the big announcement. The companies did not specify the amount paid by Daimler, other than to say it was in the double digit millions USD. Daimler will be bringing engineering support to the party and possibly parts that may go into the Model S. Tesla, will chip in by providing battery packs for the second-generation Smart ED due out later this year. Tesla will also focus on battery pack integration and battery management systems for Daimler vehicles in the furture.

The deal will also give Tesla access to the automotive lithium ion cells being produced by Daimler’s investment in Li-Tec, a joint venture between Evonik and Daimler. Weber announced that Daimler would commence series production of fully electric Smart vehicles in 2012.

Tesla Roadster Brabus fq

During a recent press conference held at the Mercedes-Benz Museum in Stuttgart, Dr. Thomas Weber, the head of research and development for Mercedes-Benz, announced that Daimler is buying a 10% stake in Tesla Motors. Tesla CEO Elon Musk was also present for the big announcement. The companies did not specify the amount paid by Daimler, other than to say it was in the double digit millions USD. Daimler will be bringing engineering support to the party and possibly parts that may go into the Model S. Tesla, will chip in by providing battery packs for the second-generation Smart ED due out later this year. Tesla will also focus on battery pack integration and battery management systems for Daimler vehicles in the furture.

The deal will also give Tesla access to the automotive lithium ion cells being produced by Daimler’s investment in Li-Tec, a joint venture between Evonik and Daimler. Weber announced that Daimler would commence series production of fully electric Smart vehicles in 2012.

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