More recent Tesla enthusiasts might not be aware that Tesla and Toyota used to have close ties. Back in 2010, Toyota invested $50 million in Tesla and they brokered a heavily discounted sale of the Nummi factory, which is now Tesla’s Fremont factory.
Tesla also used to supply the electric powertrain of the Toyota RAV4 EV up until 2014 when the program stopped. At that point, Toyota sold most of its Tesla shares for a healthy profit and this weekend, it confirmed that it sold all its remaining shares before the end of last year. expand full story