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Toyota Motor Corp announced on Saturday that it had sold off its remaining stake in Tesla last year, as the Japanese automaker began to launch its own electric car program.

Toyota initially invested $50 million in 2010 for a 3% stake in the upstart electric car builder that also involved Tesla’s purchase of the Toyota / General Motors NUMMI factory in Fremont. That same factory now employs over 10,000 workers and is expected to produce 500,000 vehicles as early as next year. Toyota divested some of its shares in 2014 with the remainder being sold in 2016 according to Bloomberg.

 



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Toyota Says They Sold Off Tesla Stake And Now Ends Project Collaboration

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