The final move has been made by Toyota Motorworks to end the long staggering tie-up with Tesla Motor Works. The company has lately become popular for bringing all-electric car concepts to India under FAME scheme on cheap prices and is expected to change the way transportation commences in our country.
Yesterday, Japan-based Toyota has sold out all the stakes it owned of Tesla, ending the alliance completely from the roots itself. It has 3% stakes, costing to $5 billion, supposed to build EVs together. It had more shares which it sold partly in 2014.
Toyota's spokesperson exclaimed to have ended the partnership as there hasn't been any substantial improvement on the technological development front. At the same time, they have made the move of appointing a new in-house unit to strategise electrical vehicular development specifically.
