On Tuesday, Daimler bought a nearly 10 percent stake in Tesla Motors for a "double-digit million sum." The two companies had already made a deal for Tesla to provide battery packs for Daimler's all-electric Smart EV, set for release in 2012, but this new partnership will expand that relationship, seeing both companies bringing expertise to the other.
Elon Musk, Tesla's CEO, said of the deal, "Tesla brings expertise in the battery electric front. Daimler brings expertise in everything else. This will be a very productive relationship where both Tesla and Daimler benefit."
Tesla will no doubt look to Daimler for help with the production and launch of the Model S. It's also possible that Tesla will begin using batteries from Li-Tek, a company that Daimler has a 49.1 percent share in, once they're available.
Daimler will be looking to Tesla for all things electric, including charging technology and how to quickly bring an electric car to market.
It seems to be a deal that will only be beneficial to both sides. Tesla needs the cash and Daimler needs a cutting edge start-up to help keep its line current.
The deal also includes a seat on Tesla's board for Daimler's VP of E-Drive and Future Mobility, Herbert Kohler.
via Wired's Autopia
Subscribe to this comment's feed
written by Josh Abadie, May 21, 2009
-
- +0
-
-
| < Prev | Next > |
|---|
MAY 21
"hopefully daimler will benefit from their 10%..."
View all Comments