Daimler has bought about a stake of 10 percent in Tesla which an electric firm in the US. Daimler’s new upcoming electric Smart will use the Tesla batteries and charging systems.

This move will encourage the Daimler’s development in the electric car segment. The American car giant plans to launch its electric saloon called “Model S” by 2011.

[Via: CW]

• Qatar now Holds a Stake in Porsche
• Fiat Buys Chrysler Shares
• Isetta roped in to promote BMW Museum in Munich
• BMW Motorrad To Launch Superbikes In India
• Audi to Introduce Stop-Start System in Cars
• UK Government to Fund JLR
• BMW to Introduce Z4 in India
• Audi S4 Roadtest
• Maruti Suzuki Increases Prices of its Models in India
• Toyota aims to launch its first electric car by 2012

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