Daimler divests remaining interest in Tesla Are you an aspiring New or Used Car Buyer looking for your dream car? Visit Cars4sa.co.za Filed under: Mercedes-Benz, Earnings/Financials, Tesla, Electric, Ownership Back in 2009, Daimler acquired over 9 percent of Tesla. A couple of months later, it sold 40 percent of that stake to Abu Dhabi-based Aabar Investments. The following year, Tesla listed on the stock exchange and Daimlers interest was reduced to 4 percent. But now the German industrial giant has announced it is selling that 4 percent and divesting from Tesla altogether in a liquidation that is expected to raise approximately $780 million for Daimler. The divestment has also triggered speculation that the move could make room for rival German automaker BMW to take an interest in Tesla. Despite the divestment, Daimler insists that its technological partnership with Tesla will remain unaffected. Mercedes sources the batteries for its B-Class Electric Drive (pictured above) from the Californian outfit in a deal that is not set to change as a result of the financial realignment. A similar collaboration was in place for the Smart Fortwo Electric Drive, however, now that the new generation of Smarts developed with Renault is on its way, its possible that a next-generation Fortwo ED will use French tech instead as an extension of the partnership between Daimler and Renault-Nissan. Daimler has also taken the occasion to point out that, between the Mercedes, Smart and various truck brands, it offers the industrys biggest portfolio of electric vehicles, including pure EVs, fuel cells and hybrids. The automaker says it will introduce ten new plug-in hybrid Mercedes models by 2017. Continue reading Daimler divests remaining interest in Tesla Daimler divests remaining interest in Tesla originally appeared on Autoblog on Wed, 22 Oct 2014 10:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
Posted on: Wed, 22 Oct 2014 14:25:20 +0000