Toyota sells all shares in Tesla

Source: Xinhua | 2017-06-05

TOYOTA Motor Corp said on Saturday it had sold all shares in Tesla Inc by the end of 2016, having canceled its tie-up with the US luxury automaker to jointly develop electric vehicles.

Japan’s biggest automaker had bought 3 percent in the Palo Alto-based automaker for US$50 million. Toyota spokesman Ryo Sakai said the firm had sold all of its shares in Tesla as of the end of 2016.