Mercedes Benz has sold its remaining 4% share of Tesla for $780 million . The German auto giant , which purchased a large 9.1% stake of Tesla back in 2009 ,saw its share reduced to 4% once Tesla grew . The joint effort , which initially started out as a effort to get Tesla's battery expretise to power Mercedes B class and Smart EV's will still continue even though the companies have no mutual agreement now.
Both car companies have a reputation for being luxury vehicles and this splitting , according to some ,might result in more competition in the luxury EV market as both companies are currently working on semi-diver interaction cars that will probably launch along side their respective flagship models in the future
Written by Rakitha for MasHD
Source - SlashGear
Our partnership with Tesla is very success and will be continued,Dr. Dieter Zetsche, head of Mercedes-Benz Cars
Both car companies have a reputation for being luxury vehicles and this splitting , according to some ,might result in more competition in the luxury EV market as both companies are currently working on semi-diver interaction cars that will probably launch along side their respective flagship models in the future
Written by Rakitha for MasHD
Source - SlashGear
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