Daimler acquires 10 per cent stake in Tesla Motors

Daimler AG has announced that it has acquired an equity stake of nearly 10 percent of Tesla Motors Inc. which deepens the relationship between the inventor of the automobile and the newest member of the global auto industry. Tesla is the only production automaker selling a highway capable electric vehicle in North America and Europe.The two companies have already been working closely to integrate Tesla’s lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler’s electric smart car. In order to benefit from each other’s know-how, the investment enables the partners to collaborate even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

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