Events after the end of the interim reporting period

 

On April 24, 2014, Tesla announced its recommendations for nominations to the company’s Board of Directors, upon which the Annual Shareholders’ Meeting will decide on June 3, 2014. Should no representative of Daimler be a member of the Board of Directors in the future, as intended, the significant influence of Daimler on Tesla would end on the day of the Annual Shareholders’ Meeting. From that day onwards, the equity interest in Tesla would have to be recognized in the consolidated statement of financial position as a “Financial instrument available for sale” at fair value based on the stock-market price. The difference on that date between the first-time fair value measured using the stock-market price and the carrying amount measured using the equity method would have to be recognized without an impact on cash flows in Group EBIT in the second quarter of 2014. At March 31, 2014, the stock-market value amounted to €736 million, compared with a carrying value of €12 million.

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