Tesla negotiating supply agreement with Mercedes-Benz

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Tesla’s CEO Elon Musk revealed that the small California-based electric vehicles manufacturer is currently negotiating a partnership agreement with Mercedes-Benz for the supply of electric powertrains (inclusive of engine and batteries) to the production line of a zero emission car bearing the 3-pointed star badge.

Apparently, it was the German automaker that approached Tesla to propose the deal. Mercedes already owns a 10% stake in Tesla, and the two companies have already worked together in the past on Smart Electric Drive batteries. Musk informed shareholders that a “letter of intent” sent from Daimler AG confirms Mercedes-Benz’s commitment to the agreement. More details on the project may be revealed “around the end of the year”, Musk said.

Via | Bloomberg

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