Abu Dhabi investment firm buys 4% of Tesla stake from Daimler

Tie-ups between traditionally European brands and Middle Eastern investment firms are becoming increasingly common. Aston Martin's primary shareholder is the Kuwaiti firm Investment Dar, and Porsche is currently hammering out a deal with Qatar, but now Abu Dhabi investment firm Aabar has purchased 4% of Daimler's stake in American electric car company Tesla Motors as a precursor to future joint ventures.

The Reuters report of the deal indicates that the details of the future of the joint ventures are still under discussion, but statements from both Daimler CEO Dieter Zetsche and Aabar chairman Khadem Al Qubaisi make it clear that there will be future cooperation.

"We are pleased that Aabar is supporting us with the development of battery systems and electric powertrains, accelerating the worldwide commercialization of electric vehicles," said Zetsche.

"There are a lot of things that we are discussing together, and we are trying to finalize a deal," said Al Qubaisi.

Whatever the exact details end up being, expect it to take place in the rapidly emerging electric vehicles segment. Daimler's partnership with Tesla is expected to bear its first fruit in the form of the all-electric Smart ED soon, but after that, there's the potential for turning Tesla's electric technology into a broader segment, such as luxury sedans.

The Aabar purchase of Daimler's stake follows on the March purchase of a 9.1% stake in Daimler itself, further underlining the joint venture future of the two companies.