Toyota officially ended its relationship with Elon Musk's Tesla by selling off its remaining shares of the company by the end of last year. The Japanese automaking company began with a $50 million investment for a three percent stake in the company.
In a statement, Toyota spokesman Ryo Sakai said, via Reuters, "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." Interestingly, late last year, Toyota formed an electric car division of its own. So, it looks like Japan's biggest automobile company is looking to compete for Tesla's market share.
News from the BBC points to Toyota investing in Cartivatorto develop a flying car. The startuphas been crowdfunding their vehicle, the Skydrive, which has projected speeds of about 100 km/h (62 mph) and the ability to fly 10 meters (33 feet) off the ground.
This move directly opposes previous statements made by Elon Musk regarding flying cars. In an interview with Bloombergearlier this year he said, “Obviously, I like flying things. But it’s difficult to imagine the flying car becoming a scalable solution.”
Electric cars have quickly become the clear front runner in the future of personal transportation. Still, it is exciting to see that flying cars may not altogether be DOA.
Share This Article
I'm an automotive industry expert with a comprehensive understanding of the recent developments in the sector, particularly concerning Toyota and Tesla. My expertise is grounded in a deep knowledge of the strategic moves made by major automakers and a keen eye for industry trends.
In the mentioned article, Toyota's decision to sell off its remaining shares in Tesla reflects a significant shift in their partnership dynamics. Toyota initially entered into a development partnership with Tesla, investing $50 million for a three percent stake in the electric car company. This move positioned Toyota as an early player in the electric vehicle (EV) market.
The termination of the development partnership, as conveyed by Toyota spokesman Ryo Sakai, indicates a divergence in their collaborative efforts. The absence of new developments prompted Toyota to divest its remaining stake in Tesla. Importantly, Toyota's subsequent establishment of its own electric car division signals a strategic pivot towards independently competing in the growing EV market.
Furthermore, the article mentions Toyota's foray into the development of flying cars, investing in Cartivator, a startup working on the Skydrive vehicle. This move is intriguing, given the contrasting views on flying cars expressed by Elon Musk. While Musk acknowledged his fondness for flying things, he expressed skepticism about flying cars becoming a scalable solution in a Bloomberg interview.
This transition from electric cars to flying cars showcases Toyota's commitment to innovation and exploring diverse avenues within the transportation sector. It also underscores the dynamic nature of the automotive industry, where companies are not only investing heavily in electric mobility but also exploring unconventional modes of transportation, such as flying cars.
In summary, my expertise allows me to analyze and provide insights into the complex strategic decisions made by major automotive players like Toyota, shedding light on the implications and motivations behind their moves in the rapidly evolving landscape of electric and futuristic transportation.
