Toyota officially ends partnership with Tesla
Wednesday, June 07, 2017
Editor Garipoint
Toyota sold all its shares in Tesla, ends partnership

Toyota has just revealed that it sold all its lasting shares in Tesla late last year. The Japanese carmaker had initially sold a portion of its shares in Tesla in 2014.

For the past couple of years, the Japanese automaker was gradually selling off their stocks in Tesla. In October 2014, Toyota sold $700 million of their shares and, prior to this final sale, sold 2.3 million shares worth around $480 million. Toyota has since gained fine over $1 billion from their initial $50 million investment.

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.

Late previous year, Toyota has been moving forward with their own EV programs and recently opened a new division to work on the said vehicles. At the moment, Toyota has an extensive range of hybrid and plug-in hybrid vehicles, as well as one hydrogen-powered car in the form of the Mirai.