Daimler was part of a stagnant partnership with chemical manufacturers Evonik while investing heavily in R&D capital in developing technologies for its Mercedes Benz E-Cell and electric vehicles intelligent. The two companies' joint venture gave Tesla the opportunity to provide lighter battery chargers for smart electric vehicles and powertrain technologies for its Mercedes Benz E-Cell vehicles. Tesla also benefited from Daimler's intellectual property in terms of more advanced suspension, brakes and battery technologies, thereby positioning itself higher in the automotive market in terms of reputation. With a 4.3% stake and an active partnership, the German company is often considered the savior of Tesla Motors because its investments have helped the company with its financial needs, according to CEO Elon Musk.