Home » News » Tesla » Daimler sold its Tesla shares for almost 800 milion USD

Daimler was one of the first manufacturers who believed in Tesla's range of vehicles and technology. The German group invested some money in shares some years ago and this is now paying off.

Daimler has terminated the share-price hedge it initiated in 2013 and has sold its stake in Tesla of approximately 4%.  The decision brought 613 million euros back to Daimler, after selling the shares, the first sign that shows Tesla has a huge potential for investment.

The cash inflow of around $780 million will be used to strengthen Daimler's operational business.   Diamlers's original investiment had helped start Tesla.  Tesla has also provided battery packs and electric powertrains for three different Daimler models - Smart ForTwo, Mercedes A-Class E-Cell, and Mercedes B-Class Electric.  The cooperation between the two companies will continue in the future, as Daimler officials say.

We are extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation. For this reason, we have decided to divest of our shares. This will also allow Tesla to broaden its investor base”, says Bodo Uebber, Member of the Board of Management of Daimler AG for Finance & Controlling and Financial Services.

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