Items tagged with Daimler AG

Daimler AG will be getting a nice return on its investment in Tesla due to the company selling its four percent stake in Tesla Motors. The British automotive manufacturer will be selling its stake for a cash inflow of around $780 million as a result of it reorganizing its cooperation with Tesla. Despite the sale, the cooperation between both companies will continue. “We are extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation,” says Daimler member of the board of management Bodo Uebber. “For this reason, we have decided to divest of our shares. This will also allow Tesla to broaden its investor base.”... Read more...