By on October 27, 2014

2013 Toyota RAV4 EV, Exterior, Photography Courtesy of Alex L. Dykes

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.”

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4 Comments on “Toyota Sells Some Of Its Stake In Tesla...”

  • avatar
    SCE to AUX

    Toyota won’t be back. They’ve dissed EVs lately and instead put their time, money, and reputation into hydrogen, which will fail.

  • avatar

    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.

    • 0 avatar

      That’s probably a major part of the reason. Toyota cooling on pure electric and experimenting with hydrogen may indicate they see gas prices remaining low over the short-medium term. China is using less oil, US shale oil production is going up, The Saudis are maintaining production and refusing to give up market share to prop up the price, and there may be a world economy downturn ahead. Toyota is smart enough not to stick its neck out too far under such possibilities.

  • avatar
    Lynn E.

    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.

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