Daimler Announces Strategic Partnership with Tesla Motors



Yesterday, we brought you a story about a webcast that would air this morning at 7 am. The webcast, provided by Daimler, was a press conference in which they would announce their electro mobility plans for the future and reveal a strategic partnership. We had hinted at the partner being Tesla, and our guess turned out to be spot on.

During the webcast this morning, Daimler announced a partnership with Tesla Motors. According to Daimler, the deal is a double digit million dollar deal that will give them nearly a 10% stake in Tesla. The collaboration calls for both companies to work together on a Smart car EV due out in 2012, as well as other future electric vehicles.

The partnership will allow Daimler to use proven technology to bring their electric vehicles to market quickly. According to Daimler board member Thomas Weber, "The first priority was to find the quickest and most straight forward solution. We are about to combine the best of the old and new school. We are both deeply convinced that electric powertrains will play a major role in sustainability mobility."

Details of the entire deal are limited at this point. But it works out as follows, Tesla will supply battery packs and electric powertrains to Daimler and in return they will receive auto manufacturing and design expertise in areas including safety requirements and mass production of vehicles.

The partnership will give Daimler an edge in bringing electric vehicles to market quickly by using the proven parts from Tesla and will allow Tesla to produce more vehicles at a lower price point.

Look for more information about the Daimler, Tesla partnership as details about the deal become available.

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