Daimler acquires 10 percent stake in Tesla Motors | Rpmgo.com

Wow, that’s a very interesting move. German automotive giant Daimler and small California based startup Tesla Motors have announced a partnership, where Daimler bought a 10 percent stake in Tesla. Like I said, that’s an interesting move, but not completely unexpected, because the two companies were already working together to integrate Tesla’s lithium-ion battery pack and charging electronics into the first 1,000 electric Smarts. Daimler’s investment in Tesla means the two companies will work more closesly in developing battery systems, electric drive systems and individual vehicle projects. Also, as part of the agreement, Herbert Kohler, Daimler AG’s VP for E-Drive and Future Mobility will take a seat in Tesla’s board of directors.

“Our strategic partnership is an important step to accelerate the commercialization of electric drives globally,” said Dr. Thomas Weber, Member of the Board of Daimler AG, responsible for Group Research and Mercedes-Benz Cars Development. “As a young and dynamic company, Tesla stands for visionary power and pioneering spirit. Together with Daimler’s 120 years of experience in the automotive sector this collaboration is a unique combination of two companies’ strengths. This marks another important milestone in Daimler’s strategy for sustainable mobility.”

“Daimler has set the benchmark for engineering excellence and vehicle quality for more than a century. It is an honor and a powerful endorsement of our technology that Daimler would choose to invest in and partner with Tesla,” said Tesla Chairman, CEO and Product Architect Elon Musk. “Daimler is also on the leading edge in the field of sustainable mobility. Among others the lithium-ion pouch-cell battery developed by Daimler and especially designed for automotive applications is of interest to us. We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler’s engineering, production and supply chain expertise. This will accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle on all levels.”

[Source: Tesla and Daimler]

Post tags : daimler, Mercedes-Benz, Tesla