Saturday, 3 June 2017

Toyota sells Tesla shares

The Times Of India reports that Toyota has sold all its Tesla shares .

TOKYO, June 3 (Reuters) - Toyota Motor Corp said on Saturday it had sold all shares in Tesla Inc by the end of 2016, having cancelled its tie-up with the U.S. luxury automaker to jointly develop electric vehicles.

Japan's biggest automaker had bought around a 3 percent stake in the Palo Alto-based automaker for $50 million.

The obvious question would be to ask if this was connected with the election of Donald Trump as US President. Political calculations touch everything, so much so that nothing seems really clean.


Thud said...

I would suspect more to do with dealing with Elon Musk.

A K Haart said...

Thud - you may be right, he could be the problem.