Daimler Takes 10% Stake in Tesla - Page 2 - LotusTalk - The Lotus Cars Community
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post #21 of 38 (permalink) Old 05-24-2009, 01:14 PM
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8 figures is peanuts to Daimler.

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post #22 of 38 (permalink) Old 05-24-2009, 10:46 PM
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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?
here is an article in reuters that pretty much spells it out...

Tesla Motors Is Stayin? Alive | Green Business | Reuters

Quote:
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.”
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...
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post #23 of 38 (permalink) Old 05-24-2009, 11:35 PM Thread Starter
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here is an article in reuters that pretty much spells it out...

Tesla Motors Is Stayin? Alive | Green Business | Reuters
Ah, thanks for the link--that information was not in the release.

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post #24 of 38 (permalink) Old 05-25-2009, 10:48 AM
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...exactly my point - i haven't heard any change in production strategy for the model S...
I'm curious about this too. Even though I've driven the Roadster several times and think it's a fun rich person's "toy" car, I would not leave a deposit on a vehicle they have no idea where it's going to be built. It's very similar to them deciding to build a Roadster and setting the sale price without knowing what the actually cost would be. Then they end up raising the price for customers that already have deposits, some of them with their cars already in production! They've got the cart in front of the horse again. None of the new car manufacturers I've ever worked for, other than Tesla, does this. If you have a deposit on your car on order, and there is a price increase, you are protected because your car is already on order.

Doesn't anybody read their contract? You can see it online when you place your order. Your deposit is not put in escrow. It is used as working capital, so if Tesla fails, your money is gone. Daimler joining in will hopefully help alleviate that, but I haven't seen any updates yet. I know I may be a bit premature, but I'm anxious to find out. I'm curious what contingencies Daimler put on Tesla. Do they have to open a dealer network, or can they remain the only anti-dealership all factory owned stores car manufacturer? Will they finally put in some more executives and management that do have dealer/manufacturer experiences? Or will they leave their Silicon Valley start-up execs in place to continue running things like they have been thus far?

In the meantime I have contacted Fisker about leaving a deposit on the Sunset. For some reason I feel more comfortable buying a hybrid at this time. Maybe because the infrastructure is already there. If the electric part of it fails I can still use gas and find a place to service my vehicle. Either way I've still got my DAI shares so if Tesla does succeed, I won't do so bad myself.

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post #25 of 38 (permalink) Old 05-25-2009, 12:16 PM
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Ah, thanks for the link--that information was not in the release.
I'm surprised that they aren't communicating all of the details to their employees. You do work for them, correct?
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post #26 of 38 (permalink) Old 05-25-2009, 12:27 PM
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I'm surprised that they aren't communicating all of the details to their employees. You do work for them, correct?
Here are some interesting reads. The witch hunt is a great example of information sharing internally, lol.

Gawker - Tesla CEO in Digital Witch Hunt - elon musk

Gawker - Tesla Flack Bitches About 'Silicon Valley Gossip Blog' - Rachel Konrad
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post #27 of 38 (permalink) Old 05-28-2009, 10:35 AM
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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?
If a company has a promising product I would invest if I could control the company - directly or indirectly/silently. I doubt that Daimler has any interest in the cars that Tesla produces, it's the patents & parts that I figure they are interested in. If Daimler does end up buying Tesla out I doubt that you'll ever see another Tesla automobile. To me the Roadster & S are distractions from the Tech & IP that Tesla should focus on and then sell the parts to auto manufacturers.
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post #28 of 38 (permalink) Old 07-12-2009, 11:58 PM
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interesting turn to this story... Daimler just sold 40% of their tesla shares to Aabar...


this is kind of wierd for them to sell off what they just bought, granted its an equity stake so unless they traded it for cash (which they arent saying) Im gueesing there is something else going on...
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post #29 of 38 (permalink) Old 07-13-2009, 12:53 AM
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Maybe Lotus's private equity owners should just buy Tesla? Then again, the guy who started Tesla is like worth 500 million dollars (co-founded Paypal), not sure if he's in a rush to sell so fast.
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post #30 of 38 (permalink) Old 07-13-2009, 04:41 AM
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Lotus is owned by Proton, not private equity.

Press release for the Aabar investment (PDF):
http://www.aabar.com/var/uploads/new...13Jul09%5D.pdf

Aabar already has a 9.1% state in Daimler AG:
Daimler Sells Aabar a 9.1% Stake for $2.7 Billion (Update3) - Bloomberg.com

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post #31 of 38 (permalink) Old 07-13-2009, 07:14 AM
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Maybe Lotus's private equity owners should just buy Tesla? Then again, the guy who started Tesla is like worth 500 million dollars (co-founded Paypal), not sure if he's in a rush to sell so fast.
I don't know how liquid he is. Is his divorced settled yet? How much did the wifey get? And don't they have 5 kids together, all under 18? I'm not sure, that's why I'm asking.

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post #32 of 38 (permalink) Old 07-13-2009, 08:17 AM
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I don't know how liquid he is. Is his divorced settled yet? How much did the wifey get? And don't they have 5 kids together, all under 18? I'm not sure, that's why I'm asking.
thats true... most of his assets are probably stock and he may be limited in what he can sell as any given time. On top of that the divorce will not go well for him... divorce sucks for most nice guys and musk does not have the most pleasant personality so ill bet he gets taken to the cleaners...
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post #33 of 38 (permalink) Old 07-13-2009, 08:27 AM
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thats true... most of his assets are probably stock and he may be limited in what he can sell as any given time. On top of that the divorce will not go well for him... divorce sucks for most nice guys and musk does not have the most pleasant personality so ill bet he gets taken to the cleaners...
Interesting article about the divorce. Shortcovers - Money Can't Buy Elon Musk Love [Geek Love] I think Justine is a bit bitter, and you're probably right about the cleaners. His new fiance is a hottie. I saw them a few months ago going to an event at one of the Tesla stores, they took a limo though, no hybrid or electric car.


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post #34 of 38 (permalink) Old 07-13-2009, 10:00 AM
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Interesting article about the divorce. Shortcovers - Money Can't Buy Elon Musk Love [Geek Love] I think Justine is a bit bitter, and you're probably right about the cleaners. His new fiance is a hottie. I saw them a few months ago going to an event at one of the Tesla stores, they took a limo though, no hybrid or electric car.

well you got to give him credit... his taste has improved; shes really pretty. Then again i always go for dark hair on girls so maybe im biased (blonde = lame)
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post #35 of 38 (permalink) Old 07-13-2009, 10:03 AM
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interesting turn to this story... Daimler just sold 40% of their tesla shares to Aabar...


this is kind of wierd for them to sell off what they just bought, granted its an equity stake so unless they traded it for cash (which they arent saying) Im gueesing there is something else going on...
There are a lot of plays in venture investment. Ultimately, what Daimler did was increase the value of the company by making it plenty viable enough to get government loans, then sell a chunk of their stake to get their cash back out of the deal.

The short version is that for taking the risk of investing up front, Daimler probably ends up with a 6% holding in Tesla for "free."

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post #36 of 38 (permalink) Old 07-26-2009, 04:22 AM
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Dont forget that there is an IPO coming up.

many things become clear when this is considered.
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post #37 of 38 (permalink) Old 08-03-2009, 05:12 PM
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She's lookin a bit different now.
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post #38 of 38 (permalink) Old 08-05-2009, 03:14 AM
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She's lookin a bit different now.
ugh... what is with that blond hair...
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