Daimler buys 10 percent stake in Tesla

Daimler AG has announced the acquisition of almost 10 percent of fledgling Californian EV producer Tesla. The deal, which should help Tesla meet its planned 2011 launch date for the Model S sedan, is the latest news in an ongoing relationship between Tesla and the German automotive giant which also includes a previously announced agreement to supply lithium-ion battery packs in the first 1,000 units of Daimler’s electric smart car.

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