Daimler has sold its remaining 4% stake in electric car company Tesla Motors which fetched the company $780m.
According to reports, the selling of shares will improve Tesla's ties with Mercedes rival BMW.
Tesla supplies batteries and electric motors that powers Dailmer's Mercedes B-class electric car, but the company has said that selling off shares does not mark the end of the Tesla Daimler ties.
Previously Tesla said that it will allow its competitors to share its patents which were aimed at stimulating the overall market for electric cars, and executives of Tesla and BMW met to standardize a charging network for electric cars.
Daimler board member Prof. Dr. Thomas Weber said: "We have supported Tesla as a startup company for many years and have learned a lot from Tesla. At the same time, Tesla was able to profit from our automotive expertise.
"The cooperation with Tesla is one component of our activities in the field of electric mobility. It optimally complements our involvement in Deutsche ACCUmotive."
Daimler initially acquired a 9.1% stake in Tesla in May 2009 and later it sold its 40% of that stake to Aabar Investments in the context of a joint strategic project in July 2009.
