Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

Log in to CarWale

Please enter your password
Forgot password?
Please enter your registered email

Sign up to CarWale

Please enter your name
+91
Please enter your mobile number
Please enter your password
Please enter your password
Ad

Toyota sold all its shares in Tesla, ends partnership

June 06, 2017, 08:38 PM IST by Bilal Ahmed Firfiray
Toyota sold all its shares in Tesla, ends partnership

Toyota has just revealed that it sold all its remaining shares in Tesla late last year. The Japanese carmaker had initially sold a portion of its shares in Tesla in 2014. Their remaining shares, they claim, were sold as a part of a ‘regular, periodic review of its investments’.

Toyota had bought a three per cent stake in Tesla back in July 2010, amounting to $50 million. The Japanese giant then sold a major portion of its shares in October 2014, which at that time were valued at $700 million. Toyota stated that its development partnership with Tesla ended a while ago and since there have not been any new developments ever since, the Japanese giant decided to sell the remaining stake as well.

Before Toyota, Daimler had also invested about 10 per cent in Tesla’s shares at that time and walked off with $800 million after selling those shares in 2015. The German carmaker benefitted from Tesla with electric projects in the Mercedes-Benz B-Class Electric Drive and the Smart EV. Toyota, on the other hand, used Tesla’s know-how for electric RAV4. 

After the end of their partnership, Daimler began its in-house EV development. Meanwhile, Toyota shifted focus to hydrogen fuel-cell vehicles. However, Toyota understands the importance of electric future and has seen a great success with its hybrid cars. Late last year, Toyota flagged a new division which will focus only on the electric vehicle development.

Although the exact selling price of the final shares is unclear, it is estimated to be somewhere around $500 million. With the partnership, Toyota hoped to get acquainted with Tesla’s start-up management culture, while Tesla benefitted by escaping the likelihood of bankruptcy.

Tags:Toyota,Tesla,Electric Vehicles,partnership,EV
Show CommentsHide Comments
Ad
  • Upcoming Cars

Tata HarrierTata Harrier

Jan 2019

16L - ₹ 22L
Tata 45XTata 45X

Mar 2019

8L - ₹ 10L
Nissan KicksNissan Kicks

Jan 2019

10L - ₹ 15L
Maruti Suzuki Wagon R FaceliftMaruti Suzuki Wagon R Facelift

Jan 2019

4L - ₹ 6L
Kia SPKia SP

Jul 2019

14L - ₹ 20L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free

Select your city to avail offers

Currently available only in