Tesla Motors Inc (NASDAQ:TSLA) is facing a bad month. After Michigan’s anti-Tesla bill, Elon Musk got another blow when Daimler AG today announced that it has sold its remaining stake in the electric car maker. Daimler is reportedly interested in starting a battery business back in Germany. In a program on Fox Business, Liz McDonald reported about this news and said that the Daimler is the parent entity of Mercedes. It has sold the remaining stake in Tesla Motors Inc (NASDAQ:TSLA) for no less than $780 million.
Recently, Tesla Motors Inc (NASDAQ:TSLA) announced that it would let its competitors share the patents in order to give a boost to the electric car technology around the world. But experts think that Tesla Motors Inc (NASDAQ:TSLA) might not be interested in in Daimler anymore. There was a meeting that took place between Tesla and BMW executives this year. Tesla Motors Inc (NASDAQ:TSLA) seems intrigued by BMW’s carbon fiber technology. The company has given a tough completion to Mercedes with its Model S and ties between it and Daimler were losing since long.
Daimler chief financial officer Bodo Uebber said in a statement that working with Tesla Motors Inc (NASDAQ:TSLA) is a great experience. He said that Daimler will keep its business ties with Tesla Motors Inc (NASDAQ:TSLA) even after divesting of 4% stake.
The source also reported about Tesla Motors Inc (NASDAQ:TSLA)’s problems in Michigan, where the governor is about to pass a bill that will force Tesla Motors Inc (NASDAQ:TSLA) to make all its car sales through dealers. Elon Musk has labeled the car dealership as a monopoly to gather money and hurdle market growth.
Tesla Motors Inc (NASDAQ:TSLA) shareholders includes Daniel Benton’s Andor Capital Management which reported owning 1.25 million shares in the company by the end of the second quarter.
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