Wednesday, October 22, 2014

MasHD Autonews - Mercedes sells off remaining 4% of Tesla

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.
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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