Daimler has sold the remaining shares of its investment in Tesla Motors, as it plans a broad roll-out of 10 new plug-in hybrid Mercedes-Benz cars by 2017, Daimler has announced.
Daimler's sale of its 4-percent stake in Tesla is expected to raise about $780 million, and the German manufacturer will continue to source the battery-electric powertrain from Tesla for its B-Class Electric Drive compact sedan, which arrived this summer at U.S. dealerships. The vehicle will arrive in Europe in November into a market where the B-Class offered with a gasoline or diesel engine is a top fleet vehicle.
Daimler initially acquired a 9.1-percent interest in Tesla in May 2009. In July of that year, Daimler transferred 40% of the investment to Aabar Investments PJSC. Daimler's stake in the company decreased to around 4%, after the listing of Tesla shares.