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19 May, 2009

Daimler buys stake, $550 million valuation

German automaker Daimler buys a 9% stake in Tesla Motors for $50 million. The company’s post-money valuation is now $550 million. Daimler also expands its partnership with the company to put electric batteries into Mercedes-Benz vehicles. In a press release, Daimler says:

Tesla is the only production automaker selling a highway capable electric vehicle in North America and Europe.

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