Toyota Sells Some Of Its Stake In Tesla
Daimler wasn’t the only to sell its Tesla shares last week, as Toyota has done the same with some of its shares in the company.
Bloomberg reports the automaker sold part of its 2.4 percent stake in the company Friday, though no details were given as to how much of the $690 million ROI was brought back into its coffers. The sale follows Daimler’s full divestment from the company, where it turned over its 4 percent stake for $780 million.
Toyota and Tesla are also winding down their RAV4 EV program before going their separate ways, where the latter supplied battery packs for the former’s 2,600 electrified crossovers over the past three years.
Though the two differ on what future they see — Toyota prefers hydrogen, Tesla opts for more electricity — Toyota representative Kayo Doi says her employer has “a good relationship” with Tesla, “ and will evaluate the feasibility of working together on future projects.”
Toyota won't be back. They've dissed EVs lately and instead put their time, money, and reputation into hydrogen, which will fail.
Toyota got involved with Tesla so that it could unload the Fremont NUMMI plant, a problem that was forced by the GM bankruptcy. At this point, there's not much reason for TMC to keep holding the stock.
Apple has an enormous amount of money but only one product selling well. How long can they keep pushing phones? Samsung phones had several of the features the iPhone 6 has before the iPhone 6 came out. Apple is going to buy Tesla. The way is being cleared for this.