“It was an opportunistic investment,” Elon Musk, chief executive officer of San Carlos, California-based Tesla, said today in an interview at the Frankfurt Motor Show. “We were not looking for money.”
Daimler AG, which invested $50 million in Tesla this year along with Aabar Investments PJSC, the Abu Dhabi fund that’s the German carmaker’s biggest shareholder, contributed to the offering to keep its stake at just under 10 percent, Musk said.
The money may be used to fund Tesla’s establishment of retail stores globally. The company, which introduced its all- electric roadster in February 2008, was profitable in the second quarter, Musk said.
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