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Daimler sells stake in Tesla for $780 million

Electric vehicle partnership not affected.


STUTTGART, Germany — Daimler AG says it has sold its 4% stake in electric car maker Tesla for $780 million.

The buyer was not disclosed.

The Germany-based parent of Mercedes-Benz says its partnership with Tesla Motors Inc. is unaffected. Tesla made the battery packs and chargers for the two-seat electric smart and developed part of the electric drive system in the B-Class Electric Drive.

© 2014 The Canadian Press

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