Daimler AG (DDAIF) announced Tuesday that it has sold its stake in Tesla (TSLA) for $780 million.
The two companies had just finished work on the drivetrain for the Mercedes B-Class electric vehicles, which launched in the U.S. this summer and will launch in Europe next month.
Telsa also supplied the first batteries for Daimler’s electric Smart Car two-seaters.
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Tesla shares were down about 1% in after-hours trading.