Daimler AG announced that it sold its about 4% stake in Tesla Motors Inc.
Daimler said that the cooperation between the partners on the automotive projects is unaffected. Development work for the Mercedes-Benz B-Class Electric Drive is completed, the partnership with Tesla remains in place, according to the automaker.
“We pursue our strategy for emission-free driving consequently. Electric vehicles are one component of this roadmap. In Tesla we do have a bold partner. Together we launched the B-class Electric Drive successfully in the United States this summer. In November, the B-Class Electric Drive will be launched in Europe as well. We are convinced that this powerful electric vehicle for everyday use will appeal to a lot of customers,” stated Dr. Dieter Zetsche, chairman of the board of management of Daimler AG and head of Mercedes-Benz Cars.
The sale of Tesla stake will result in a cash inflow of around $780 million, which will be used to strengthen Daimler’s operational business, according to a statement.
“We have supported Tesla as a startup company for many years and have learned a lot from Tesla. At the same time, Tesla was able to profit from our automotive expertise. The cooperation with Tesla is one component of our activities in the field of electric mobility. It optimally complements our involvement in Deutsche ACCUmotive,” stated Prof. Dr. Thomas Weber, member of the board of management of Daimler AG for Group Research and Mercedes-Benz Cars Development.
