Toyota sells all shares in Tesla as their tie-up ends
Japan's biggest automaker had bought around a 3 percent stake in the Palo Alto-based automaker for $50 million.
Toyota spokesman Ryo Sakai said the company had sold all of its shares in Tesla as of the end of 2016, part of a regular, periodic review of its investments, after it had initially sold down a portion in 2014.
"Our development partnership with Tesla ended a while ago, and since there has not been any new developments on that front, we decided it was time to sell the remaining stake," he said. ■