Toyota Motor Corp said on Friday it had sold some of its shares in Tesla Motors Inc but that it would continue to study possible cooperation with the U.S. electric car maker in the future.Toyota, the world's biggest automaker, invested $50 million in the Palo Alto-based startup in May 2010 ahead of Tesla's initial public offering in June that year.Toyota said at the time the investment would give it a stake of about 2.5 percent, but the size of its current stake is not clear. Toyota said it would not disclose the timing or amount of the latest sale, which was first reported by the Nikkei business daily."We will continue to have good relations with Tesla," Toyota spokesman Ryo Sakai said, adding that the sale resulted from Toyota's regular review of its investments.
TOYOTA MOTOR CORPORATION is a Japan-based company mainly engaged in the automobile business and financial business. Shares of TM traded higher by 1.02% or $1.14/share to $113.41. In the past year, the shares have traded as low as $103.38 and as high as $130.48. On average, 327722 shares of TM exchange hands on a given day and today's volume is recorded at 408288.
Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. Shares of TSLA traded higher by 1.81% or $4.19/share to $235.29. In the past year, the shares have traded as low as $116.10 and as high as $291.42. On average, 6048540 shares of TSLA exchange hands on a given day and today's volume is recorded at 3499882.
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