As part of the deal between the two firms, Prof. Herbert Kohler, Vice President E-Drive and Future Mobility at Daimler AG, will take a seat on Tesla's board of directors.
"Our strategic partnership is an important step to accelerate the commercialization of electric drives globally," said Dr. Thomas Weber, Member of the Board of Daimler AG, responsible for Group Research and Mercedes-Benz Cars Development.
Tesla CEO Elon Musk said that the lithium-ion pouch-cell battery developed by Daimler and especially designed for automotive applications is of interest to the California-based company that recently unveiled the all-electric Model S sports sedan which is scheduled to enter the market in 2011.
"We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler's engineering, production and supply chain expertise. This will accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle on all levels," said Musk.
Chinese automaker BYD (Build Your Dreams) and Mercedes-Benz's parent company Daimler AG have set up a new joint venture called "Shenzhen BYD Daimler New Technology Co. Ltd," to develop electric vehicles for China. The two companies said...
In the latest sign of auto industry marriages, Mercedes-Benz' parent company Daimler and the Renault-Nissan Alliance made their relationship official today at a news conference in Brussels, Belgium. The two groups announced a broad strategic cooperation...
The first examples of Smart's second-generation Fortwo Electric Drive will roll off the production line at the firm's Hambach plant in France in mid November, the company announced today. Initially, the all-electric Smart that is powered by a...
We are more than aware that this doesn't mean squat in the real world, but nevertheless it's something worth noting. Last Wednesday's announcement that Mercedes-Benz parent company Daimler AG's paid $50 million US or about €37 million...
In a move that many analysts see as a need to raise some much needed cash during a time of deepening global recession, Mercedes-Benz' parent company Daimler announced that it has sold a 9.1% stake worth €1.95 billion (US$2.65 billion) to Aabar...