Saturday, March 24, 2012

Daimler takes 10% stake in Tesla Motors - San Francisco Business Times:

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Stuttgart, Germany-based Daimler and San Carlos-basedr Tesla have already been working together tointegrates Tesla's lithium-ion battery packs and chargintg electronics into the first 1,00 units of Daimler's smart car. "This investment deepense the relationship between the inventor of the automobilew and the newest member of the global auto thecompanies said. "Tesla is the only production automaker selling a highway capable electric vehicle in Nort Americaand Europe.
" "Daimler has set the benchmark for engineerinvg excellence and vehicle quality for more than a It is an honor and a powerful endorsement of our technology that Daimler would choose to invest in and partner with Tesla," said Teslaa CEO and Elon Musk. "We are looking forwarsd to a strategic cooperation in a number of areae includingleveraging Daimler's engineering, production and supply chaih expertise. This will accelerat bringing our Tesla Model S to production and ensure that it is a superlativwe vehicle onall levels." In Tesla began development of its first electric vehicle, the Roadster.
The Tesls Model S leverages that technology into a fullh electric sedan. Financial details of the deal with Daimle r werenot disclosed.

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