Quite recently, Daimler has sold its 4 percent stake in Tesla. Toyota decided to walk in Mercedes’ footsteps and part with its 2.4 percent stake. However, similar to the situation with Daimler, Toyota has no intention to end its cooperation with Tesla straight away.
There is no word yet regarding the reasons why Toyota is selling off its shares. The stake Toyota had will net it about $640 million in profit. Tesla and Toyota have teamed up to develop electric engines for the RAV4 SUV; however, the contract expires later this year and there is no word about its renewal yet.
Toyota’s eco-friendly SUVs do not enjoy much popularity. Only 2,000 vehicles were sold within the last 2 years bringing the future of an all-electric RAV4 SUV under question.
