Abu Dhabi Buys 40% of Daimler's Tesla Motors Stake

aabar investments image

Photo: Aabar

I'm Sure Conspiracy Theorists Are Paying Attention

Back in May, Daimler bought a 10% stake in electric car maker Tesla. But once you own something, you can resell it. That's what Daimler just did; it sold 40% of its Tesla stake (or 4% of Tesla) to Abu Dhabi-based Aabar Investments. "This investment allows Daimler and Aabar to leverage their shared interest in the development of low-CO2 drive systems," the companies said in a statement. But what does this mean?

Tesla Roadster photo

Aabar already had a 9.1% stake in Daimler, purchased in March. "Aabar is an investment company controlled by the International Petroleum Investment Company (IPIC), which is wholly owned by the Government of the Emirate of Abu Dhabi."

What This Means
Hopefully this just means that the UAE are trying to diversify their investments and Tesla seemed like a good bet, not that they're trying to get a toehold into the electric car business to nefarious ends (not sure what they could do with 4% anyway, and it would be surprising if they could do anything without it getting out).

What do you think? Do they want Tesla to succeed, or are they trying to find a way in to better defend fossil fuel interests?

Via Reuters

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