Toyota to sell massive $4.7B stake in top supplier as it looks to catch up in EV race
November 28, 2023
Toyota is securing substantial funding as it looks to catch up in the EV race. Sources close to the matter say Toyota and its affiliates will sell a stake of around $4.7B in Denso, the second-largest global auto supplier.
Toyota plans to sell around 10% (roughly $4.7 billion) of its stake in the supplier by the end of the year. The move comes as Toyota looks to accelerate next-gen EV tech…