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what could this new Mercedes EV be about?
Tesla says new electric powertrain deal with Daimler will exceed in value sum of all its prior powertrain agreements
In its letter to shareholders reporting Q1 2012 results, Tesla Motors Chairman, Product Architect and CEO Elon Musk and Deepak Ahuja, Chief Financial Officer, said that the company had recently signed an agreement with Daimler to create an entire electric powertrain for a new Mercedes-Benz EV, formalizing a joint effort kicked off in Q4 last year. (Earlier post.)
This program is expected to exceed in value the sum of all powertrain agreements signed in Tesla history. [Approximately $280 million, according to Tesla.] Producing at this expected volume will allow for economies of scale that give the resulting vehicle a cost of ownership that is on par with its gasoline equivalent.
—Letter to Shareholders
This will be Tesla’s third deal with Daimler, following component supplies for smart cars and A-Class hatches.