Toyota sells off Tesla shares, too
 

<p>Filed under: <a href="http://www.autoblog.com/bmw/" rel="tag">BMW</a>, <a href="http://www.autoblog.com/toyota/" rel="tag">Toyota</a>, <a href="http://www.autoblog.com/tesla/" rel="tag">Tesla</a></p><a href="http://www.bloomberg.com/news/2014-10-24/toyota-sells-tesla-shares-as-ev-project-winds-down.html"><img alt="Tesla Toyota" data-caption="Toyota CEO Akio Toyoda, right, and Tesla CEO Elon Musk, left, at Tesla headquarters in Palo Alto, Calif., Thursday, May 20, 2010. Tesla and Toyota officials announce partnership. (AP Photo/Paul Sakuma)" data-credit="Paul Sakuma / AP" data-mep="525211" src="http://o.aolcdn.com/dims-shared/dims3/GLOB/crop/4080x2709+0+5/resize/628x417!/format/jpg/quality/85/http://hss-prod.hss.aol.com/hss/storage/midas/20b3feea3247371c5acd6d808 c42bb04/200977320/5c0881029de64c9281dbe3adc 4cf5fe7.jpeg" /></a><br />
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The incredible rise of Tesla's stock price has done little to now stop <em>two</em> major shareholders from ditching their stake in the American EV manufacturer. First, <a href="http://www.autoblog.com/tag/daimler/">Daimler</a>, parent company of <a href="http://www.autoblog.com/mercedes-benz/">Mercedes-Benz</a>, <a href="http://www.autoblog.com/2014/10/22/daimler-divests-tesla-stock-tsla/">ditched its four-percent stake</a>, and less than a week later, <a href="http://www.autoblog.com/toyota/">Toyota</a> is doing the same thing, selling off an undisclosed bit of its <a href="http://www.autoblog.com/tesla/">Tesla</a> investment.<br />
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The move comes as Toyota winds down sales of the <a href="http://www.autoblog.com/tag/toyota+rav4+ev/">RAV4 EV</a>, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.<br />
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"We have a good relationship with Tesla, and <a href="http://www.bloomberg.com/news/2014-10-24/toyota-sells-tesla-shares-as-ev-project-winds-down.html">will evaluate the feasibility of working together on future projects</a>," Toyota spokesperson Kayo Doi told <em>Bloomberg</em> via email.<br />
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According to <em>Bloomberg</em>, Toyota maintained a 2.4-percent stake as recently as March 31, making it the tenth-largest of Tesla's investors. As the Japanese shed an undisclosed percentage of its shares, though, another automaker might be eyeing the California company.<br />
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<em>Value Walk</em> has a speculative story that claims <a href="http://www.autoblog.com/bmw/">BMW</a> could be looking at tying up with Tesla, based on a reported meeting between execs from the two companies. The fact that the <a href="http://www.valuewalk.com/2014/10/bmw-said-buy-stake-tesla-motors-inc/">Munich-based company's carbon-fiber expertise fits nicely with the Palo Alto company's EV knowhow</a> is apparently the driving force behind this speculation. But as usual, take this with a grain of salt.<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2014/10/24/toyota-sells-off-tesla-shares/">Toyota sells off Tesla shares, too</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Fri, 24 Oct 2014 14:15:00 EST. Please see our <a href="/rss-term-of-use/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2014/10/24/toyota-sells-off-tesla-shares/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/20983685/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2014/10/24/toyota-sells-off-tesla-shares/#comments" title="View reader comments on this entry">Comments</a>

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