Currently reading: Toyota sells off part of its Tesla stake
Japanese manufacturer follows Daimler by offloading a portion of its interest in Elon Musk's electric vehicle company

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.

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Factczech 26 October 2014

Seems to me......

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.

Christian Galea 26 October 2014

Factczech wrote:I will give

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...

fadyady 24 October 2014

What is the significance? If any?

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.