Daimler teams up with Tesla, plans a new electric Smart-car push

Daimler Takes 10 Percent Stake in Tesla German automaker Daimler AG acquired a stake in Silicon Valley electric car builder Tesla Motors, maker of the Tesla Roadster. Daimler plans to increase production of its own electric cars, including the Smart ForTwo ED. Tesla Motors

Media outlets are reporting today that German automaker and Mercedes parent Daimler AG has acquired a stake in Silicon Valley electric-car builder Tesla Motors. Word is, Daimler's nearly 10 percent buy is the latest component in the company's plan to expand production of cars that rely on the power grid, not dead dinosaurs, for motivation.

Daimler and Tesla are already partners, collaborating on batteries and control systems for an electric version of Daimler's two-seat Smart ForTwo. Forbes puts the stake at somewhere in the “double-digit millions” range. Tesla founder and chief executive Elon Musk says the deal will let the two companies work more closely on developing better battery and electric drive systems for vehicles, and help Tesla bring its new Model S sedan to market faster and at a higher quality.


Daimler has been fleet-testing 100 models of its Smart ForTwo ED -- an all-electric version of the popular minicar -- in London, with production slated for later this year at the company's factory in Hambach, France.

[via Forbes]

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2 Comments

Some months ago I read where a scientist theorized that crude oil was NOT the residue of dead dinosaurs but rather a byproduct of geological processes. I suppose the global warming/climate change/flavor-of-the-month alarmists quickly ganged up and pummeled him to, if not death, then silence. This might explain why, 30 or 40 years after hearing the first warnings that "the oil will run out" it still hasn't.

Anyway, Tesla once mocked the old ways of the automakers, claiming Silicon Valley could do it better... now, not so much, eh?

Tominator

from Snellville, Georgia

One book that posits the abiotic theory of crude oil formation is entitled Black Gold Stranglehold, written by Jerome Corsi and Craig Smith, available via Amazon. I have come to believe this alternate concept of crude petroleum existence.

Can one really believe that so many trillions of tons of vegetable matter were deposited in such geographically select areas on the planet surface over time? Doubtful. In fact, the Soviets were primary among the initiators of the abiotic theory back in the early 1950's. The volume is worth a read. Then read The Bottomless Well to understand why all vehicular propulsion is funneling toward electric.


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