Daimler investment arm Blackstar InvestCo reduces its shareholding in Tesla

Article by Christian A., on June 28, 2012

Daimler's investment vehicle -- Blackstar InvestCo – has reduced its shareholding in Tesla Motors after transferring 40% of its stake to fellow Daimler investor, Abu Dhabi sovereign-wealth fund Aabar Investments PJSC. This was revealed via a regulatory filing. Blackstar, the third-largest shareholder in Tesla, transferred 3.25 million Tesla shares to Aabar.

Jeff Evanson, Tesla's head of investor relations, said that Daimler continues to be Tesla's No. 3 shareholder, behind Tesla CEO Elon Musk and Fidelity Investments. Daimler's investment in Tesla and purchases of its battery packs and motors had aided in sustaining Tesla after a cash crisis in 2008.

Last week, Tesla started to deliver the first versions of its battery-powered Model S luxury sedan. It has also inked a deal to supply the parts for a new electric Mercedes-Benz model.

Evanson said that Daimler is expected to retain sole ownership of Blackstar and will not sell any of their shares. He also believes that Daimler investment will stay at 4.7 percent. He said that Abu Dhabi Water & Electric, which had held 7.3 million shares at the end of last year, has divested its Tesla holdings.

Daimler spokesman Florian Martens confirmed the share transfer. Martens said that the new Mercedes project with Tesla is for a B-class small wagon.

In a statement, Daimler's development chief Thomas Weber said that Daimler's partnership with Tesla has developed wonderfully and is intended to be long-term. Weber said that the two companies are the leading players for electric mobility and will proceed with extending the boundaries in this segment.

Topics: daimler, tesla

If you liked the article, share on:

Comments

Recommended

In 2014, Jaguar Land Rover’s Special Vehicle Operations revealed the F-Type Project 7. At that time, it was said to be the fastest accelerating road car carrying a 5.0-liter Supercharged...
by - May 29, 2017
There is an ongoing rumor going around the automotive community, and it’s aimed at BMW. The rumor? The German marque has reportedly axed the i5 Electric vehicle concept. These supposed...
by - May 29, 2017
Volkswagen's yearly Worthersee affair that happens in Austria is considered a hotbed for all types of cars from the German company's long and renowned history. Most of the gathering features...
by - May 29, 2017
Behold, the Rolls-Royce Sweptail! The Sweptail is probably the biggest two-seater car that has ever been built. It may look odd at first glance, and you may not be fond...
by - May 29, 2017
BMW just keeps on getting bigger and bigger, in terms of their lineup I mean. Just after unveiling the 8 Series Concept, they are now teasing us with an M8...
by - May 29, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries