Daimler AG – who at one point held 9 percent of Tesla Motors – has recently announced that it will be selling off all of its remaining shares. Currently, the conglomerate owns 4 percent of Tesla’s stock.
According to Daimler, the company’s partnership with Tesla Motors is not coming to an end with the divestment of their stake. Chairman of the Board of Management Dr. Dieter Zetsche credited Tesla motors with supplying the batteries that helped make the first-generation Smart ForTwo one of the best-selling electric cars in Germany. As he said in a press release: “Our partnership with Tesla is very successful and will be continued.”
This liquidation of Daimler’s stake in Tesla Motors is expected to garner the conglomerate $780 million. According to the folks at Autoblog, speculation has arisen that the decision to sell off the stock could lead Germany’s BMW to purchase a stake in Tesla.
In addition to the Smart ForTwo, Daimler also acquires the batteries for its Mercedes-Benz B-Class Electric Drive from the Palo Alto automaker. So long as this partnership can continue along the same path, Daimler has very little to lose, and nearly $800 million to gain.