Japanese manufacturer follows Daimler by offloading a portion of its interest in Elon Musk's electric vehicle company
Matt Burt
24 October 2014

Toyota has sold part of its interest in Tesla, just days after Daimler cashed-in its shares in the US electric vehicle manufacturer.

The relationship between Toyota and Tesla dates back to 2010 and was originally proposed by Akio Toyoda, president and chief executive of the Japanese car giant.

Toyota and Tesla have collaborated on joint-development of the RAV4 electric SUV, which was only sold in selected urban areas in the United States.

Underpinned by a Tesla-designed battery and electric powertrain, the front-wheel-drive RAV4 EV developed from a pipe dream to a reality in just 22 months. The SUV was first revealed in 2012, and roughly 2600 examples have been produced over three years.

But that project is now winding down, and Toyota is putting more emphasis on fuel cell electric vehicles for the future.

No specifics of the sale have been released by Toyota, which is reported to have held a stake of about 2.4 per cent in Tesla. However, the Japanese company has left the door open for potential new technical collaborations in the future.

Get the latest car news, reviews and galleries from Autocar direct to your inbox every week. Enter your email address below:

Our Verdict

Toyota RAV4

Likeable Toyota RAV4 4x4 grows and matures but loses originality and still falls short of the class’s highest dynamic standards

24 October 2014
Can somebody please explain what's happening? Mercedes and Toyota have together off-loaded roughly 5% of the Tesla shares they held today. Does that affect Tesla share prices? Are these great motoring giants short of cash (altogether the shares are worth over £1 billion)? Or do they think it's best time to sell the shares? This is a corporate piece of news and Autocar seems totally out of depth to give it any perspective.

26 October 2014
Seems to me that both Merc and Toyota have acquired enough technical knowledge of Tesla's operations and have decided that it is time to cut and run so as to develop their own brand of 100% electric vehicles..
Renault did the same to Caterham and as soon as, they then released plans for their own sports car project.

I will give it two years before we hear Merc or Toyota launching an all electric mainstream car.

26 October 2014
Factczech wrote:

I will give it two years before we hear Merc or Toyota launching an all electric mainstream car.

Actually Merc has been experimenting with electric tech for years, have already sold electric versions of the previous-gen B-Class and Smart and are now selling current-gen electric B-Classes...

 

- Follow your own star -

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer
  • Citroën C3
    First Drive
    16 October 2017
    Is the third gen Citroën C3 ‘fresh and different’ enough to take on its supermini rivals? We spend six months with one to find out
  • BMW X3
    First Drive
    15 October 2017
    A satisfying rework of the X3 that usefully improves its handling, cabin finish, space and connectivity to make this BMW a class front-runner again