Daimler investment arm Blackstar InvestCo reduces its shareholding in Tesla

Article by Christian Andrei, 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

Login or Create new account to add a comment!

Recommended

Did you miss the opportunity to get a brand new Dodge Viper? Well, here’s something you don’t want to miss. Dodge has announced a “final call” for orders for its...
by - December 6, 2016
Acura fans and customers rejoice! Sales have begun for the flagship model of Acura’s RLX top-of-the-range sedan – the 2017 Acura RLX Sport Hybrid. Described by Acura as its most...
by - December 6, 2016
Autonomous cars are slowly but surely gaining more appeal among drivers around the world. While a complete self-driving system has yet to be launched, carmakers have been finding ways to...
by - December 6, 2016
BMW has officially ended the production cycle for what is considered as its meanest and fastest sports car – the BMW M4 GTS. Basically a power-up evolution of the BMW...
by - December 6, 2016
Now that Lamborghini is set to bring a “more aggressive” Aventador, it only makes sense that it will be given a name. Seeing how it goes, perhaps we won’t be...
by - December 6, 2016
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