Only a few days after Daimler sold its remaining 4 percent stake in Tesla, Toyota is the next major stockholder to dispose some of its shares in the electric carmaker.
The Japanese brand declined to reveal the timing and the amount of shares it sold.
In 2010, Toyota formed a partnership with Tesla investing around $50 million in the Californian company for what was then, a 3.2 percent stake. Bloomberg reported that Toyota held 2.94m Tesla shares, equal to a 2.4 per cent stake, as of March 31.
Just like Daimler did when it sold its entire stake in Tesla, Toyota also said that it would continue its cooperation with the EV maker, without explaining what that means.
“We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects,” said Toyota spokeswoman Kayo Doi.
Tesla had signed a $100 million deal to supply Toyota with electric batteries and motors for the RAV-4 EV in 2012, but the agreement will end this year, with the Japanese company to focus more on fuel-cell vehicles, a technology that Tesla CEO Elon Musk had recently called “Bulls**t”.
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