Daimler Takes 10% Stake In TeslaS

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]

Photo Credit: Energy Rogue