Report – Li-Tec electric joint venture in discussions with potential new partners image

Li-Tec, an electric joint venture between Daimler and Evonik Industries, is now making progress in the ongoing search for a new partner to enter the company.

Li-Tec is majority-owned (50.1%) by Evonik Industries, while the rest belongs to Daimler, the parent company of third placed luxury automaker Mercedes-Benz, with the joint-venture being in the business of producing and developing lithium-ion batteries for electric cars.

“We have been discussing,” said Daimler Development Board Thomas Weber in an interview. “Another partner in the business with battery cells would not harm the joint venture,” said Weber.

Also, although recently an electric car from Tesla that was involved in a debris crash caught fire, Weber wants to keep alive the cooperation with the Californian battery electric car manufacturer. Daimler currently owns 4.3% of Tesla’s shares.

“We think this is a strategically clever way to present solutions quickly and inexpensively and can gather a lot of know-how,” says Weber.

The U.S. startup of billionaire entrepreneur and co-founder Elon Musk has sourced the power drive for the electric-powered variant of the Mercedes B-Class, which is set to begin deliveries later on, next year.