Daimler takes 10 percent stake in EV maker Tesla

[BobDrye]

Daimler AG has acquired an equity stake of nearly 10 percent of California electric car maker Tesla Motors Inc., the German automaker said Tuesday.

 

The two companies have been working together to integrate Tesla's lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler's electric Smart car.

 

Daimler said its stake in Tesla will allow the companies to collaborate even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

 

"Our strategic partnership is an important step to accelerate the commercialization of electric drives globally," said Thomas Weber, Daimler's head of research.

 

Tesla, based in San Carlos, Calif., is the only production automaker selling a highway-capable electric vehicle in North America and Europe.

 

Tesla CEO Elon Musk said the lithium-ion pouch-cell battery developed by Daimler is of interest to Tesla.

 

"We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler's engineering, production and supply chain expertise," Musk said in a statement. "This will accelerate bringing our Tesla Model S to production."

 

As part of the collaboration, Herbert Kohler, Daimler's vice president of E-Drive and Future Mobility, will get a Tesla board seat

[DeanG]

Maybe MB will drive Tesla into bankruptcy too.