Skip advert
Advertisement

Surprise as Mercedes sells off Tesla stake

Mercedes parent company Daimler has sold its stake in Tesla Motors for £485 million profit, surprising investors

Tesla Model S - front tracking

Daimler-Benz announced today that it has sold off its four-percent stake in Tesla Motors, making a financial gain of $780 million (£485 million) in the process. But the company maintains that the development of a Mercedes electric car range will continue unaffected.

The German automaker claims it is trying to build its own battery making venture in its home country. Therefore holding shares in the California-based company is "not necessary for our partnership and cooperation", according to Daimler board member Bodo Uebber who spoke to the Wall Street Journal yesterday.

Mercedes B-Class front

Daimler will continue to buy battery systems from Tesla for the forthcoming Mercedes B-Class electric car. But the company has not stated whether it will do the same for its recently unveiled C350 Plug-in hybrid compact executive model, as well as a flagship hybrid S-Class luxury saloon, which goes on sale next month. 

Advertisement - Article continues below

When Daimler first acquired shares in 2009, Tesla was a decidedly fragile startup firm. Yet over the past five years it has rapidly expanded, becoming a credible rival for the Mercedes brand in some sectors, particularly with the Model S performance saloon.

But Mercedes' four-percent stake has been sold at a time when Tesla's shares appear to be on the downswing, possibly indicating that Daimler's sale was due to financial concern. The £485 million profit significantly boosts the German brand's 2014 financial position.

Do you think Daimler was wise to sell its shares in Tesla? Let us know in the comments section below...

Skip advert
Advertisement
Skip advert
Advertisement

Recommended

All electric car drivers should start using Tesla Superchargers
Opinion - Tesla chargers

All electric car drivers should start using Tesla Superchargers

With more than half of Tesla's Superchargers open to any EV, editor Paul Barker wonders why more drivers are not making use of them
Opinion
16 Jul 2025
Best classic cars - the classics we’d most love to own
Best classic cars - July 25

Best classic cars - the classics we’d most love to own

These are our favourite classic cars, from British beauties to V8-engined beasts
Best cars & vans
8 Jul 2025
Luxury Mercedes ‘leather’ made from old tyres is great news for the planet, and cows
‘Labfiber Biotech Leather Alternative’ - tyre and leather

Luxury Mercedes ‘leather’ made from old tyres is great news for the planet, and cows

The new material was first seen in the radical AMG GT XX concept, but will be used in the brand’s road cars
News
26 Jun 2025
New Mercedes-AMG super-saloon looks ready to pounce on the Lotus Emeya
Mercedes-AMG electric super-saloon - front 3/4 static

New Mercedes-AMG super-saloon looks ready to pounce on the Lotus Emeya

AMG’s new technological flagship will be revealed in full next year, after being previewed by the radical AMG GT XX concept
News
26 Jun 2025

Most Popular

New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment
Xiaomi YU7 - front cornering

New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment

BMW or Mercedes would do anything to keep the new Xiaomi YU7 from sale in the UK and Europe, and this is why
Road tests
14 Jul 2025
Electric Car Grant in detail: Which cars will get the UK EV discount?
Auto Express creative director Darren Wilson charging the Lexus RZ

Electric Car Grant in detail: Which cars will get the UK EV discount?

The government has set out its plan to help reduce the cost of affordable EVs by introducing a new £3,750 Electric Car Grant for new EVs sold under £3…
News
18 Jul 2025
Electric Mercedes CLA Shooting Brake will keep going long after rivals need to stop
Mercedes CLA Shooting Brake - front action

Electric Mercedes CLA Shooting Brake will keep going long after rivals need to stop

The second of Merc’s new-era EVs is here in the form of an attractive estate with a huge range
News
14 Jul 2025