, Columnist
Mercedes vs. Tesla Is an Epic Tale
Daimler isn't getting much credit for its spending splurge.
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If a liberal arts major tries to tell you that business lacks poetry, remind them of this German-American saga:
In 2009 Tesla Inc. looked like it might run out of money. CEO Elon Musk was borrowing from friends just to cover his rent. Salvation came from luxury car titan Daimler AG, which invested $50 million for a 9 percent stake in the electric car startup. Musk says without Daimler’s riches Tesla would have been tossed on the funeral pyre.