According to Xinhua News Agency, Japanese media reported on the 3rd that Toyota Motor Corporation of Japan has sold all the shares of Tesla, the US electric vehicle company, to cancel the cooperation between the two parties in the field of pure electric vehicles.
According to reports, Toyota invested 50 million US dollars in 2010 to acquire a 3% stake in Tesla, and jointly promoted the development of pure electric vehicles with Tesla. Since then, Toyota has launched a sport utility vehicle (SUV) equipped with a Tesla battery and sold it in the United States.
However, Tesla stopped supplying batteries to Toyota in 2014, and Toyota sold some shares of Tesla in October of the same year.
Toyota's eco-friendly car strategy has been centered on hybrid and fuel cell vehicles. In November 2016, Toyota first disclosed a specific plan for the production of pure electric vehicles. The goal is to establish and improve the mass production system for pure electric vehicles by 2020.
Analysts believe that Toyota is strengthening the independent research and development of pure electric vehicles, and it is no longer necessary to cooperate with Tesla, so it sold all the shares of the latter.
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