Daimler Buys 10% Stake in Tesla
By wchung | 19 May, 2009
A Tesla Roadster is featured in a showroom in Menlo Park, Calif. (AP Photo/Paul Sakuma,File)
German automaker Daimler AG announced Tuesday that it has acquired a nearly 10 percent stake in California-based electric car maker Tesla Motors Inc. as part of plans to ramp up its own electric car production.
The two companies are already working together on using Tesla’s lithium-ion battery packs and charging electronics in Daimler’s electric version of its two-seat Smart car.
Tesla was incorporated in July 2003 by engineers Martin Eberhard and Marc Tarpenning in San Carlos, California. Its early investors include PayPal co-founder Elon Musk and Google co-founders Sergey Brin & Larry Page, Hyatt heir Nick Pritzker. It currently produces an all-electric roadster that sells for about $107,000 and boasts a range over over 100 miles per charge. By January it has delivered about 145 cars.
5/19/2009 MENLO PARK
Recent Articles
- Your Answers to These 7 Questions Will Reveal Whether You're Sane or a Closet Lunatic
- US Oil Companies Profit from Strait of Hormuz Closure Says Russian Oil CEO
- Trump Faces New Republican Resistance in Congress as Midterms Approach
- SpaceX IPO Already Two Times Oversubscribed
- SpaceX Signs Google As AI Compute Client After Landing Anthropic
- $1 Trillion in Stock Market Valuation Erased by AI Chip Selloff
- Anthropic Urges Industry Pause As AI Nears Recursive Self-Development
- Trump's South Lawn UFC Birthday Bash to Mix Politics with Punches
- Trump Policies Targeting 39 Nationalities of Immigrants Invalidated
- One Man Holds Back the World's Progress toward Green Energy Sufficiency and Prosperity