August 26, 2009 |
Chrysler has sued Daimler, seeking damages for an alleged breach of contract the U.S. automaker said may derail manufacturing of its vehicles for the 2010 model year and beyond. Daimler refuses to honor contracts transferred after the sale of Chrysler's best assets to Fiat, according to the lawsuit filed in U.S. Bankruptcy Court in Manhattan.
May 20, 2009 |
German automaker Daimler has bought nearly 10% of Tesla Motors Inc., giving a financial boost to the California electric car company. Daimler, which owns Mercedes-Benz, didn't disclose the amount of the investment, saying only that, priced in euros, the amount was in "eight figures." In January, Daimler selected Tesla to provide batteries and chargers for the German company's Smart EV electric car.
March 24, 2009 |
German carmaker Daimler said Monday that the sale of a 9.1% stake to an Abu Dhabi investment fund gives it an advantage over rivals that have yet to seek additional cash as automotive markets shrink. Daimler raised $2.66 billion selling new shares to Aabar Investments. The money will be used to finance fuel-saving technology such as development of battery-powered vehicles, Chief Executive Dieter Zetsche said.
January 14, 2009 |
Tesla, the San Carlos, Calif.-based electric car company, said Tuesday that it had been selected to provide the batteries and chargers for Daimler's Smart EV electric car and would deliver 1,000 of the batteries this year and next. "Daimler just gave me permission this morning to announce the news," said Tesla Chief Executive Elon Musk, best known as the co-founder of PayPal.
October 25, 2008 |
Wall Street joined stock markets around the world in a huge sell-off Friday, sending major market indexes to their lowest levels in more than five years on the belief that a punishing economic recession is at hand. A grim outlook from electronics maker Sony helped trigger the selling, and another bleak forecast from automaker Daimler added momentum to the drop. The Dow Jones industrials fell more than 500 points soon after the opening bell.
September 25, 2008 |
German automaker Daimler said Wednesday that it was in talks to sell its remaining stake in Chrysler to private equity firm Cerberus Capital Management. Daimler spokesman Han Tjan confirmed a report in Germany's Manager Magazin that the company was in talks to sell the 19.9% stake, but he would not say how long the discussions had taken place or give other details. Cerberus said in a statement that it approached Daimler about the purchase.