Toyota disposes of its remaining shares in Tesla

Toyota disposes of its remaining shares in Tesla

Due to a lack of new developments, Toyota has confirmed it had sold all its remaining shares in Tesla. The Japanese carmaker had previously owned a 3% stake in Tesla, which was valued at US$50 million back in 2010.

“Our development partnership with Tesla ended a while ago, and since there has not been any new developments on that front, we decided it was time to sell the remaining stake,” said Toyota spokesman Ryo Sakai.

The remaining shares were sold at the end of 2016, part of a regular, periodic review of its investments, after it had initially sold down a portion in 2014 for US$700 million.

The two companies had a mutually beneficial partnership, where Toyota would receive the expertise to help in the development of the RAV4 EV, while Tesla benefitted from escaping the likelihood of bankruptcy.

Toyota has since moved on to work on its hydrogen fuel-cell tech, resulting in the introduction of the Mirai. The carmaker’s new in-house “EV Business Planning Department” headed by Toyota president Akio Toyoda further reduces the necessity for Toyota to partner up with Tesla.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • “escaping the likelihood of bankruptcy”. Lolz! Awaiting Geely come buy lettew. inb4 ini mesti krana P1 mgmt inside Tesla ni…

    Like or Dislike: Thumb up 8 Thumb down 6
    • Copypaste john on Jun 05, 2017 at 3:02 pm

      U know better right P1 mgmt inside Tesla ni….
      Incompetent imbecile nasi lemak.

      Like or Dislike: Thumb up 8 Thumb down 5
      • Yes. Ur right dem Tesla guys r Incompetent imbecile nasi lemak.

        Like or Dislike: Thumb up 6 Thumb down 9
    • p1geely on Jun 05, 2017 at 3:44 pm

      Stop daydreaming. How the hell does this even involve geely or proton… Please keep your excitement in check

      Like or Dislike: Thumb up 1 Thumb down 4
    • MusTanG on Jun 06, 2017 at 1:22 pm

      Deeppppppppppppppp

      Like or Dislike: Thumb up 0 Thumb down 0
  • That is what you can call profit taking in playing the equities game. Tesla stock is really high right now and valued more than GM or Ford. That initial Toyota investment has already grown a lot.

    Like or Dislike: Thumb up 0 Thumb down 3
    • Tesla has no money and still in heavy debt. Worst of all, no car company wants to buy into its equity. Thats why Toyota is running away before the companu collapses. The boss spending more money on Space-X. So what will happen to Tesla? Die lor!

      Like or Dislike: Thumb up 3 Thumb down 0
      • Later Elon will ride his private space rocket come Washington to beg for donation, i mean deadak. And im sure the US rakyat will object and demands them payback all the incentives & tax breaks given till now and demands them kolos shop immediately. Oh yes, basher logic demands it.

        Like or Dislike: Thumb up 0 Thumb down 3
  • Now I know there are a lot of tesla experts in Malaysia.

    Like or Dislike: Thumb up 1 Thumb down 1
  • Semi-Value (Member) on Jun 05, 2017 at 11:17 pm

    profit taking activities. investing 101.

    Like or Dislike: Thumb up 1 Thumb down 0
 

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