In Depth

Toyota ends partnership with Tesla

Japanese carmaker's 'conservative' approach reportedly clashed with Elon Musk's 'risk-taking' strategy

Toyota has sold "the last of its stake"in Tesla, ending its partnership with the firm, reports the Financial Times

The car giant "bought roughly 3 per cent of Tesla for $50m (£39m) in 2010" in a deal that "included the sale of its assembly plant in Fremont, California, to Elon Musk's electric car start-up", says the paper.

The partnership was designed to "inject some of Tesla's start-up management culture into the Japanese carmaker", but the company’s "risk-taking" approach clashed with Toyota's "conservative" strategy.

Toyota's "electric sport utility vehicle" RAV4 EV, which ceased production in 2014, is the last car to be co-developed with Tesla.

According to Fortune, Toyota is establishing its own electric vehicle division to take-on Tesla.

However, its management may not be "truly committed to developing fully electric vehicles" as the company has "poured sustained effort into the development of hydrogen fuel-cell vehicles".

AutoExpress says Toyota's most recent hydrogen-powered car, the Mirai, is priced at £66,000 - which is around £5,000 more expensive than Tesla's entry-level Model S electric saloon

Musk also plans to introduce his cheaper, mass-market Model 3 battery-powered saloon later this year, which will boast a battery range of 215 miles and is expected to cost £35,000, making it one of the cheapest electric saloons on the market.

Recommended

Aston Martin DBX707: the fastest production SUV on sale
Aston Martin DBX707
Expert’s view

Aston Martin DBX707: the fastest production SUV on sale

Citroën C3: what the car critics say
Citroën C3 2022
Expert’s view

Citroën C3: what the car critics say

Škoda Fabia: what the car critics say
Škoda Fabia 2022 car
Expert’s view

Škoda Fabia: what the car critics say

Elon Musk’s Twitter takeover: trouble for Tesla? 
Elon Musk
Why we’re talking about . . .

Elon Musk’s Twitter takeover: trouble for Tesla? 

Popular articles

What would happen if China invaded Taiwan?
Chinese troops on mobile rocket launchers during a parade in Beijing
Fact file

What would happen if China invaded Taiwan?

Is Russian President Vladimir Putin seriously ill?
Vladimir Putin
Why we’re talking about . . .

Is Russian President Vladimir Putin seriously ill?

The mysterious Russian oligarch deaths
Vladimir Putin has previously deployed ‘extreme measures’ to crush opposition
Why we’re talking about . . .

The mysterious Russian oligarch deaths

The Week Footer Banner