Toyota Dumps Tesla Stock

According to Automotive News, Toyota on Saturday dumped all Tesla stocks it had purchased. Should you do the same, if you have Tesla stocks? That’s a good question, but your reasons won’t be the same as Toyota’s.

The Japanese automaker originally bought a 3 percent stake in the California automaker as part of a partnership. Of course, that went belly-up. The reasons for the relationship souring varies depending on which side you talk to. Let’s just say Toyota and Tesla had creative differences.

Toyota didn’t waste too much time dumping Tesla stock. All shares were sold off by the end of last year, and the company stayed pretty quiet about the move. Back in 2014, Toyota whittled down its Tesla stock options quite a bit, but now it’s completely done.

About the only thing Toyota got out of the deal was help with the RAV4 EV. About 2,500 were sold in Canada and the US.

Of course, Elon Musk famously said Toyota’s dedication to hydrogen fuel is “bulls***”. Toyota fired back later by showing how it uses cow manure to produce hydrogen for the Mirai. So the two companies aren’t exactly friends anymore.