Mercedes Looks to End B-Class Components, Battery Partnership with Tesla (TSLA)

August 19, 2015 10:58 AM EDT

Diamler AG's Mercedes-Benz unit will move to end its partnership with Tesla Motors (Nasdaq: TSLA) as the German automaker moves to produce components for its B-Class Electric Drive car in house.

According to Mercedes will still want to purchase batteries for the vehicle, but there was no indication of where they would procure those.

It also wasn't made specific when the partnership would end, though it might be expected sooner rather than later.

Notably, Daimler sold the remaining 4 percent stake it held in Tesla last October, but said the move wouldn't affect the cooperation between the two companies.

Tesla is down 0.9 percent Wednesday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Insiders' Blog, Rumors

Related Entities