Toyota cuts ties with Tesla, to launch electric car group soon

Toyota has reportedly severed its long relationship with Electric Vehicle company, Tesla selling off its remaining shares of the company by the end of last year. An initial $50 million investment was done by the Japanese automaker for a 3% stake in Elon Musk's Tesla.

Recall that before now, Toyota had delved into electric cars with the likes of the Toyota Mirai popularly known as Prius EV.

Toyota announced via its spokesman “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.”

Already, the company has a new flying car in the works which it intends to deliver for the next Olympics, called the Skydrive, it is reported to have projected speeds of about 100 km/h (62 mph) and the ability to fly 10 meters (33 feet) off the ground.

Via Futurism

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