Daimler has reorganized its cooperation with Tesla Motors Inc.;
terminated the share-price hedge it initiated in 2013 and sold its four per
cent stake in Tesla.
Daimler adds that cooperation between the partners
on the automotive projects is unaffected and, while development work for the
Mercedes-Benz B-Class Electric Drive is completed, “the partnership with Tesla
remains in place”.
“We pursue our
strategy for emission-free driving consequently. Electric vehicles are one
component of this roadmap. In Tesla we do have a bold partner. Together we
launched the B-class Electric Drive successfully in the US this summer. In
November, the B-Class Electric Drive will be launched in Europe as well. We are
convinced that this powerful electric vehicle for everyday use will appeal to a
lot of customers,” said Dr. Dieter Zetsche, chairman of the board of management
of Daimler AG and head of Mercedes-Benz Cars.
Furthermore, batteries
for the first generation of Smart fourtwo electric drive had been sourced from
Tesla. The two-seater with electric drive is one of the best-selling electric
cars in Germany.
“Our partnership
with Tesla is very successful and will be continued”, added Zetsche.
Bodo Uebber, member
of the board of management of Daimler AG for finance added: “We are extremely satisfied
with our investment in Tesla, but it is not necessary for our partnership and
cooperation. For this reason, we have decided to divest of our shares. This
will also allow Tesla to broaden its investor base.”
The sale of the
stake in Tesla will result in a cash inflow of around $780 million, which will
be used to strengthen Daimler’s operational business.
Daimler claims to
have the industry’s biggest portfolio of electric vehicles from cars and vans
to buses and light trucks: smart electric drive, Mercedes-Benz A-Class E-CELL,
B-Class Electric Drive, B-Class F-CELL, SLS AMG Coupe Electric Drive, Vito
E-CELL, Mercedes-Benz Citaro FuelCELL-Hybrid, Fuso Canter E-CELL and
Freightliner Custom Chassis MT E-CELL All-Electric.
“Systematic
hybridization” are the current buzz words identyfing a “fixed element” of Daimler’s
powertrain strategy. In 2014, Mercedes-Benz sold more automobiles with hybrid
drive than all other German manufacturers combined. The focus will continue to
be on plug-in hybrids in the coming years. By the year 2017, Mercedes-Benz Cars
will launch ten new plug-in hybrid models in all market segments.
Daimler initially
acquired a 9.1% interest in Tesla in May 2009. 40% of that investment was
transferred to Aabar Investments PJSC in the context of a joint strategic
project in July 2009.
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