REPORT: Daimler sells 4% of Tesla to Middle East investment fund just two months after acquiring it
by Sam Abuelsamid on Jul 13th 2009 at 12:40PM 
Tesla Roadster - Click above image for high-res gallery
Just two months after buying 9% of Tesla Motors, Daimler has reportedly sold nearly half of that stake. According to Reuters, a 4% percent of the electric car startup is now owned by Aabar Investments, an Abu Dhabi-based investment fund. In a way, the stake is still in the family, since Aabar already bought 9.1 percent of Daimler's stock earlier this year. At the time of its original investment, Daimler and the fund indicated an intention to pursue joint projects in low emissions transportation.
Aabar has indicated it would be interested in pursuing some kind of joint venture with Tesla. The fund is controlled by the Abu Dhabi government and managed by the International Petroleum Investment Company with the intent of diversifying beyond oil.
Gallery: Jason Calacanis' Tesla Roadster
Photos copyright ©2009 Drew Phillips / Weblogs, Inc.
[Source: Reuters]
Reader Comments (Page 1 of 2)
pinili 1:19PM (7/13/2009)
I don't trust these arabs.
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nrb 3:19PM (7/13/2009)
That's a racially insensitive comment and I completely agree with you.
eb 3:49PM (7/13/2009)
I lived in Abu Dhabi and the local Emiratis I interacted with were some of the smartest, most well-educated folks I've ever met. They speak better English than most of us Americans. Of course they're going to invest in the future...if you had the money to do so, wouldn't you? Plus, the UAE loves their cars and $100,000 sports cars are common-place on the roads. Good luck to Abu Dhabi and Tesla.
Nozferat 5:21PM (7/14/2009)
Pinhead and NRB...
Spoken like to dumbass hicks.
Benoid 1:28PM (7/13/2009)
There is a typo - "intent of diversifying beyond oil" should actually read "intent of diversifying their control beyond oil". Sure the Arabs want to stall any advancements in oil dependency.
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Daddy 1:39PM (7/13/2009)
Maybe Daimler just did their due diligence and found out that Tesla is nothing more then hype machine for a potential IPO and they tried to dump their investment on the next sucker.
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Lad 2:16PM (7/13/2009)
This is business; 9% and 4% is 13%. I see a simple move to gather up additional control of TMC. That's what business is all about...who controls the decisions and disburses the funds. One might suspect that TMC poses a threat to Big Oil by gathering momentum pushing their electric car early to the market place...not true! If Big Oil wanted to stop the momentum of marketing electric cars, it should be Nissan/Renault they're after. TMC is a niche player and will have little effect on the oil players.
Snoopy 7:22PM (7/13/2009)
Daddy,
That's ridiculous.
Lad,
I think you misread. Nine minus four does not equal 13. Daimler sold half of its stake in the company.
Dave 12:50AM (7/14/2009)
Exactly right, Daddy. Tesla is completely worthless.
Tesla has no useful proprietary technology. Every component of an EV can be sourced from numerous companies.
Ford found a far superior EV partner in Magna.
polo 10:49AM (7/14/2009)
"Tesla has no useful proprietary technology. Every component of an EV can be sourced from numerous companies."
Thats right, Telsa has no proprietary electric drive train tech, everything they use can be bought from walmart? You sound like an idiot. Daimler probably got back double their investment for that 4%.
Throwback 1:39PM (7/13/2009)
Get your tin foil hats out, and let the conspiracy theories begin.
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Stew 5:26PM (7/13/2009)
It's an aluminum foil hat, not tin - thank you very much! And yes, quite clearly they are attempting to gain majority stake in Tesla so they can suppress electric cars, just like Chevron did with the large format EV-95 NiMH battery.
Stew
Nick P. 1:53PM (7/13/2009)
Tesla, take your hand out of the water, I read there are sharks in the area. Um..too late.
Seriously, nothing to see here. Any automaker trading publicly have strange and various stock holders. Like GM and the Canadian government. Imagine that.
Plus, Tesla was young and needed the money...
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Dude 1:54PM (7/13/2009)
If this is not an indication of peak oil I don't know what is. These guys know the numbers and are investing acordingly. What does Abu Dabi have besides oil? Some R&D, some trading and shipping but not enough. Now they want a piece of the next energy pie. I don't have an issue with it, if they have money and want to make e cars, go for it!
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Tohe 4:27PM (7/13/2009)
Tainted love? To be honest I don't feel like contributing to this affair with my money, so no Model S for me anymore.
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polo 10:56AM (7/14/2009)
You check the stock holders of every publicly traded company you buy from? Of course not because its ridiculous and idiotic.
Tohe 4:16PM (7/14/2009)
@Polo
You are entitled to your own opinion, I'm entitled to use my money however I see fit, I will not buy from Tesla, you are welcome to do so if you have the cash. Peace.
jpm 6:01PM (7/13/2009)
Well that's fucked up....
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Jon 4:21AM (7/14/2009)
I think everyone here is overreacting - it's only 4%. The company is not "controlled by Arabs" now. Jeez.
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Tohe 8:08AM (7/14/2009)
For me it is not about decision power at Tesla, it is about stake and benefit. I don't want any of my money to go to a group of people whose culture and practices I do not support.