12/1/2014

BMW Won’t Buy Stake in Tesla

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BMW AG says it has no interest in acquiring equity in U.S. electric carmaker Tesla Motors Inc., WirtschaftsWoche reports.

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BMW AG says it has no interest in acquiring equity in U.S. electric carmaker Tesla Motors Inc., WirtschaftsWoche reports.

Tesla said last week the companies have held informal talks about collaboration. But it added there are no plans to launch an alliance.

Reporters raised the question last month after Daimler AG sold its 9% stake in Tesla for €614 million. Daimler says Tesla will continue to supply electric powertrains for Mercedes-Benz B-Class EVs.

Last month Tesla CEO Elon Musk told Der Spiegel that the company was discussing a possible alliance with BMW in batteries, EV charging stations and carbon-fiber-reinforced car parts. BMW describes those talks as "a casual conversation."