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Daimler takes 10% stake in EV maker Tesla

Posted Tuesday, May 19, 2009, 10:31 am in Employee News

Automotive News reports that Daimler AG said Tuesday it has acquired a nearly 10 percent in electric car maker Tesla Motors Inc.

Both companies have been working closely to integrate Tesla’s lithium-ion battery packs and charging electronics into Daimler’s electric Smart car.

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

Tesla CEO Elon Musk told the publication his company is ” looking forward to …leveraging Daimler’s engineering, production and supply chain expertise. This will accelerate bringing our Tesla Model S to production.”

According to the story, Tesla is the only production automaker selling a highway-capable electric vehicle in North America and Europe. (Automotive News)
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