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Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.

Senator pushes for up to life sentence for auto execs found to delay recalls

Democratic Senator Claire McCaskill (shown above) has had it with automotive execs stalling when it comes to recalls. The Missiourian has proposed a new bill, the Motor Vehicle and Highway Safety Enhancement Act, which aims to improve the automotive safety following the high-profile fiascos involving General Motors and Toyota. Aside from a doubling of the budget for the National Highway Traffic Safety Administration over the next six years and the removal of the $35-million limit for fining automakers, the plan includes a provision that would punish auto executives if it's discovered they knowingly delayed recalls. How will it punish them, you ask? Oh, you know, just life in prison. The bill "gives federal prosecutors greater discretion to bring criminal prosecutions for auto safety violations and increases the possible penalties, including up to life in prison for violations that result in death," McCaskill's office told The Detroit News. If a delayed recall led to serious injuries, meanwhile, execs could still face a 15-year stint behind bars. As for that change in the fine structure for automakers, the removal of the limit is complemented by a hefty increase in the per-vehicle fine, from $5,000 to $25,000. With this change, GM could have been on the hook for $55 billion (with a "b") in fines for its bumbling of the ignition switch recall, rather than just $35 million. The News says, though, that NHTSA has "wide discretion" in handing out the fines. Considering a $55-billion fine is enough to sink any automaker, it is unlikely that such a monumental sum would be handed out. Still, the potential threat of such a death sentence should be enough for any automaker to sit up and take notice. "With millions of Americans behind the wheel every day, and more than 33,000 killed on our roads each year, we've got to do more to keep our cars and the roads we drive them on safe," McCaskill said, according to The News. "Painful recent examples at Toyota and GM have shown us we also must make it easier to hold accountable those who jeopardize consumers' safety. For too long, auto safety resources have remained virtually stagnant while cars and the safety challenges they present have become more complex." What do you think? Do you agree with McCaskill's proposed bill? Should the punishments for automakers and execs be more or less harsh? Have your say in Comments. News Source: The Detroit NewsImage Credit: J.

Mazda and Toyota formally announce plans to 'make cars better'

Following Monday's report that Toyota and Mazda could be expanding their cooperation, the two Japanese automakers have made it official, issuing a joint press release announcing a "mutually beneficial long-term partnership" that will "make cars better." The two companies will set up a joint committee to figure out the strengths and weaknesses of each party. As we explained yesterday, that likely means Mazda will benefit from Toyota's plug-in-hybrid and fuel-cell tech, while the world's largest automaker can take advantage of the Zoom-Zoom automaker's line of efficient Skyactiv engines. "I am delighted that our two companies can share the same vision and work together to make cars better. I can think of nothing more wonderful than showing the world – together – that the next 100 years of cars will be just as fun as the first," Toyota President Akio Toyoda said in the attached joint statement. Mazda President and CEO Masamichi Kogai echoed that sentiment, saying: "I hope that by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima, and all the communities we are involved in as well." Scroll down for the official joint press release. Toyota and Mazda Team Up to Make Cars Better Tokyo, Japan, May 13, 2015-Toyota Motor Corporation and Mazda Motor Corporation today entered an agreement to build a mutually beneficial long term partnership. By leveraging the resources of both companies to complement and enhance each other's products and technologies, the partnership will result in more appealing cars that meet the diverse needs and tastes of customers all over the world. A joint committee will now be set up to evaluate how best to utilize each company's respective strengths. The committee will encourage broad and meaningful collaboration across a range of fields, including environmental and advanced safety technologies. Marking the agreement, Toyota President Akio Toyoda said: "As evidenced by their SKYACTIV Technologies and KODO-Soul of Motion design, Mazda has proven that it always thinks of what is coming next for vehicles and technology, while still managing to stay true to its basic carmaking roots. In this way, Mazda very much practices what Toyota holds dear: making ever-better cars. I am delighted that our two companies can share the same vision and work together to make cars better.