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From Electrek: Toyota cut its last tie with Tesla as it launched its own electric car effort

Discussion in 'News from Electrek.co' started by RSSFeed, Jun 4, 2017.

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  1. RSSFeed

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    Toyota cut its last tie with Tesla as it launched its own electric car effort

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    More recent Tesla enthusiasts might not be aware that Tesla and Toyota used to have close ties. Back in 2010, Toyota invested $50 million in Tesla and they brokered a heavily discounted sale of the Nummi factory, which is now Tesla’s Fremont factory.

    Tesla also used to supply the electric powertrain of the Toyota RAV4 EV up until 2014 when the program stopped. At that point, Toyota sold most of its Tesla shares for a healthy profit and this weekend, it confirmed that it sold all its remaining shares before the end of last year. more…

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  2. Badback

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    Well, at least we have dodged the dreaded Tesota Model 3.
     
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  3. Michael Russo

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    Am I the only one that finds it a bit suspicious that, if they shed all their stock end of 2016, that this news only comes now after so many months...?
    In the world of today, this feels like old news to me, or, as one of my old bosses used to say SW2C (where the two is intended as square, meaning 'So What Who Cares')!! :)
     
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  4. garsh

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    It also means that a lot of the downward pressure on the stock price at the time was due to having a rather large owner of shares trying to sell all of their shares. If Toyota had pre-announced that they were selling their shares, the stock price would have dropped.
     
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