Toyota sells part of stake in Tesla Motors

Article by Christian Andrei, on October 26, 2014

Toyota Motor Corp. has sold a part of its stake in American electric vehicle maker Tesla Motors Inc., according to a report by the Nikkei financial newspaper. Toyota made a $50-million investment in Tesla in May 2010, just a month before the EV maker launched its initial public offering.

While the size of its current stake in Tesla remains a mystery, Toyota said at the time of the investment that it would have a 2.5-percent holds in the American company. During its IPO, Tesla set a price of $17 per share. That surge nearly 14 times to $235.29 as of October 23, 2014, in New York.

Tesla and Toyota has agreement in which the EV maker supplies batteries and motors for the electric versions of the RAV4 that went on sale in 2012. The supply agreement, however, will be terminated by the end of 2014 after the Japanese carmaker just sold 20,000 units

Tesla chief executive Elon Musk remarked that the EV maker could ink a new agreement with Toyota in the next two to three years. Aside from Toyota, Daimler has sold its stake in Tesla. Unlike Toyota, Daimler sold its entire stake to register a gain of $780 million, after buying it for only $50 million in May 2009.

Topics: toyota, tesla motors

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The Shooting Brake is probably the least rendered body shape in the automotive world. But it’s also the most sought after design among car nuts for its unique, old-fashioned charm....
by - January 23, 2017
Perhaps to make the upcoming Valentine’s day more special, Tinder dating app and Ford UK have cooked up a special blind date for all the single blokes and chicks in...
by - January 23, 2017
2017 is undeniably a very busy year for BMW. After introducing the new 4-Series, the German automaker has just released several new updates. In relation to this, BMW is also...
by - January 23, 2017
The renowned Shelby Super Snake is now 50 years old! As we greet the Super Snake a “happy birthday” or a “happy anniversary,” Shelby itself is celebrating half a century...
by - January 23, 2017
Nearly a year after the Subaru XV Concept was unveiled at the 2016 Geneva Motor Show in Switzerland, this SUV study is making its North American debut at the 2017...
by - January 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries