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Thursday, May 21, 2009
Daimler Invests In Tesla Motors
Image: © 2009 Daimler AG

Daimler (Mercedes-Benz) Makes A 10% Equity Investment In Tesla Motors

SAN CARLOS, CALIFORNIA - Tesla Motors and Daimler AG jointly announced today that a 10% equity stake of Tesla Motors had been taken by Daimler AG of Stuttgart in Germany. For Tesla Motors, based in San Carlos, California and the manufacturer of the electric sports car, the Tesla Roadster, Daimler's investment gives them a strong allied partner to work with in the development of their manufacturing and supply chain capability. For Daimler, Tesla is a company with many of the new ideas in electric cars, and they have already proven themselves with the production version of Tesla Roadster, so the two meet 'eye to eye' when it comes to achieving engineering excellence.

theirEarth drove the all-electric Tesla Roadster in the mountains of Southern France last year, and we found the car to have full-blown race handling characteristics, with an electric motor that didn't know when to stop delivering torque. In fact the torque delivery reminded us of turbo boost characteristics with a much wider power band.

Daimler AG had already started partnering with Tesla Motors earlier this year when they announced a joint project with Tesla Motors to integrate Tesla's battery packs in a limited production run of 1000 Daimler electric smart ed cars for the United States market. Additionally, with Daimler's help on the construction of the manufacturing plant in San Jose for the new Model 'S' electric sedan, and using Daimler's parts procurement expertise, Tesla Motors will only benefit from the joint cooperation. Elon Musk, Tesla's CEO and Product Architect, said of the investment, "Daimler is also on the leading edge in the field of sustainable mobility. Among others, the lithium-ion pouch-cell developed by Daimler, and especially designed for automotive applications is of interest to us."

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