Daimler and Tesla Motors announced today they'll partner to manufacture electric cars. As part of the agreement, the German automaker says it's acquired an equity stake of nearly 10% in the electric car maker.
It's not the first time these two companies have partnered. This year at the Detroit Auto Show the two automakers agreed to a minor partnership for Tesla to provide the powertrains for a test run of electric smart cars. Now, with Daimler scooping up 10% of the new company, both automakers are now claiming the alliance will "make electro mobility a reality."
We're not entirely sure we buy that, but if there's one thing Tesla needs, it's a cash influx. An equity stake would help, but we think this is merely a preamble to allow Daimler to determine the viability of both the company and the technology before they go after the whole shebang. (Hat tip to Alex!) [via CNNMoney]
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