Production Of The Toyota RAV4 EV Ceased Earlier This Year - Tesla Provided The e-Drivetrain And Battery Packs For The All-Electric SUV
Apparently the thing to do this week if you were an early investor in Tesla Motors...is to sell, as Toyota has reportedly lessened its position significantly in the California EV automaker.
Toyota's "Advanced Tech" Vehicles
This comes after Tuesday's announcement from Daimler that it had exited its Tesla position completely earlier this week. In so doing the company netted $780 million to its bottom line by selling the remaining 4.3% stake it owned - Daimler's original investment was for 9.1% of the company - purchased in 2009 (pre-IPO) for $50 million.
Toyota's sale was reported by the Nikkei Wednesday and the exact amount is not yet known, however the Japanese company had held as much as 2.4% of Tesla, which it had purchased in 2010 for $50 million. If Toyota sold half that position, it would have netted about $350 million dollars.
Once again, market analysts are debating the reason that Tesla's two largest automotive investors and business partners are exiting the company at essentially the same time. Do they know something the rest of us don't? Or are they just being fiscally prudent?
Tesla manufactured e-drivetrains for both the Toyota RAV4 EV (discontinued) and the current Mercedes-Benz B-Class Electric Drive. Tesla shares (real time quote here) were unaffected by the news, and close up $4.19 (+1.81%) during an exceptionally strong day for the wider market.