Tesla closes Toyota $50M placement alongside its IPO
Toyota's $50 million common-stock purchase closed concurrently with Tesla's IPO.
Evidence notes
- Toyota bought 2,941,176 Tesla shares at the $17 IPO price.
- Tesla reported that the IPO itself generated about $184 million of net proceeds.
- The companies also began electric-vehicle and RAV4 powertrain development work.
Company context
Tesla is an automotive and AI company developing Optimus, a general-purpose humanoid built on its autonomy, battery, and vertically integrated manufacturing stack.