A Tesla electric sportscar

An Abu Dhabi investment company has taken a share in US electric carmaker Tesla Motors.

Aabar Investments has taken 40% of Daimler’s interest in Tesla. The German company took a share of just under 10% in the electric carmaker in May. Aabar has a 9.1% stake in Daimler, which owns Mercedes-Benz and citycar brand Smart.

Daimler and Tesla have agreed to work together to integrate Tesla’s lithium ion batteries and electronics into the first 1,000 electric Smart cars produced.

His Excellency Khadem Al Qubaisi, chairman of Aabar Investments, said: “When we acquired our stake in Daimler in March we identified a number of potential areas for cooperation between our two businesses. One of these was a desire to focus on the development of electric vehicles and projects aiming at the reduction of CO2-

emissions. Our joint involvement with Daimler in Tesla is completely in line with this strategy, and marks an important step in the continuing development of our partnership.”

Dr. Dieter Zetsche, Daimler’s CEO, said the move would support the development of battery systems and electric powertrains, accelerating the growth of electric vehicles worldwide.”

emissions. Our joint involvement with Daimler in Tesla is completely in line with this strategy, and marks an important step in the continuing development of our partnership.”

Dr. Dieter Zetsche, Daimler’s CEO, said the move would support the development of battery systems and electric powertrains, accelerating the growth of electric vehicles worldwide.”