Daimler Takes 10 Percent Stake in Tesla Motors

German manufacturer Daimler has made an important step towards the electric future as it announced today it has acquired a 10 percent in Tesla Motors, the company behind the Roadster and Model S all electric vehicles. As a result of this, Herbert Kohler, Daimler vice president E-Drive and Future Mobility will take a seat on Tesla's board of directors.

"Our strategic partnership is an important step to accelerate the commercialization of electric drives globally. 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 company’s strengths. This marks another important milestone in Daimler’s strategy for sustainable mobility,” Thomas Weber, Daimler member of the board said in a release.

The two companies were already engaged in a collaboration, as they tried to integrate Tesla’s lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler’s electric smart car. The investment takes the collaboration to another level, opening the way for the development of battery systems, electric drive systems and individual vehicle projects.

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,” Elon Musk, Tesla CEO added.

The future of the electric side of Daimler is now secure. Later in 2009, Daimler will start production of 1,000 units of the second-generation smart fortwo with electric drive. In 2010, the first battery-powered Mercedes-Benz will hit the market and by 2012 the company plans to equip all smart and Mercedes-Benz electric vehicles with own produced lithium-ion batteries.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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