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Originally Posted by smicker
Well yes, the board seat -- but that's normal for any investment deal of this size. The part about "having a rep to "oversee" things at the company" -- that's what I'm referring to. Please point that part out. And do you really think that in this economy anyone would make an eight-figure investment in a company they feel is poorly run? Really?
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here is an article in reuters that pretty much spells it out...
Tesla Motors Is Stayin? Alive | Green Business | Reuters
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In exchange for its money and commitment, Daimler gets a seat on the Tesla board and will send a representative to Tesla to oversee the new “strategic partnership.”
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and yes as BM noted, 8 figures is nothing to daimler... I honestly dont think they really care what tesla builds as long as they can supply the batteries and drive systems. You have to look at if from daimler's standpoint: they *know* that tesla has fallen behind schedule, had budgetary and management issues, etc. (remember the thread about the 2008 production run being done in april...) What they want specifically is access to batteries and AFAIK tesla has a number of exclusivitiy agreemenrts with suppliers, so daimler throws some money at tesla, gets a bit of control and can influence things within the company...