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

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
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