Daimler AG Sells 4% Stake In Tesla Motors Inc.; Says Cooperation 'Unaffected'

Daimler AG (OTC: DDAIF) sold its 4 percent stake in Tesla Motors Inc. (NASDAQ: TSLA) but said Tuesday its cooperation with the electric car-maker is "unaffected."Tesla, up 56 percent in the year to date, fell 1 percent recently in Tuesday's extended session to $232.50 a share.Daimler and Tesla jointly launched the B-class electric drive vehicle in the U.S. earlier this year and plan a similar launch in Europe. In addition, Tesla supplies batteries for some of Daimler's electric-powered vehicles.Daimler finance chief Bodo Uebber said the company is "extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation."Daimler acquired a 9.1 stake in Tesla in May 2009 but quickly transferred 40 percent of that investment to Aabar Investments. Capital increases at Tesla resulting from its 2010 initial public offering reduced Daimler's stake to 4 percent.