The other day Daimler divested itself from Tesla and now Toyota has followed suit … sort of.
Mercedes-Benz dropped its nearly 4 percent stake in the California-based electric-vehicle builder but the Capital T didn’t do anything that drastic. It sold “some” of its shares in the company. Toyota invested $50 million in Tesla back in May of 2010. That outlay gave it about 2.5 percent of the firm.
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Right now Toyota has not disclosed how much Tesla stock it has jettisoned, so it could be anywhere between zero and all of it. The company is continuing to study potential ways of cooperating in the future.
Right now Tesla provides motors and battery packs to Toyota for their all-electric RAV4 crossover but this partnership is scheduled to end at the close of the year. This vehicle landed on the market in 2012 and to date Toyota has only sold around 2,000 RAV4 EVs.
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[Source: Automotive News]
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