Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Marriage Between Tesla Motors Inc (TSLA) And Daimler AG Ends

German car manufacturer Daimler AG had announced that it will be selling its interest in Tesla Motors Inc (NASDAQ:TSLA). The two companies would continue to collaborate on projects and Daimler would not halt its components trade with the California based company. Bloomberg reporter Jonathan Ferro spoke about the sale on the channel’s Company News segment.

Tesla Motors Inc (NASDAQ:TSLA)

“Daimler AG says it is receiving about $780 million for the sale of its 3.9% stake,” said Ferro about the deal. The Mercedes Benz manufacturer had said that this development will not affect other relationships with Tesla Motors Inc (NASDAQ:TSLA). Daimler’s electric car, the Mercedes Benz B-Class, will continue to use Tesla batteries but it is unclear if future electric car models from Daimler will follow the same path. Both Tesla and Daimler have not disclosed the buyer of the stake.

Daimler AG initially owned about 9% stake worth $50 million in Tesla Motors Inc (NASDAQ:TSLA) back in 2009 when the electric car manufacturer was still a struggling startup desperately in need of capital investment. Over the years, that number had gone down to just under 4% but the value of the stocks stayed on an upward trend. Daimler had announced that it planned to use the cash from the sale to boost its catalog including its pure electric drive car, the Mercedes Benz B-Class. “The German company says it will continue to buy components from Tesla and an electric version of the Mercedes Benz B-Class will be launched in Europe next month,” said Ferro.

Toyota Motor Corp (ADR) (NYSE:TM) was the other company that came to Tesla Motors Inc (NASDAQ:TSLA)’s rescue in 2009 and the Japanese automobile company still owns 2.4% stake in Tesla. But the Toyota – Tesla relation suffered due to their opposing views on fuel cells, one which Toyota embraces but Tesla admonishes. Tesla Chief Elon Musk was noted to have said in Tesla’s shareholder meeting held in June that the companies had decided to re-evaluate their differences after a couple of years.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!