The recognition within Toyota, the world's biggest automaker, that Tesla has set a new benchmark for EV manufacturing costs marks a major reversal.
A decade ago when Toyota took a stake in Tesla and the two collaborated to produce a battery-electric version of the RAV4, many Toyota engineers believed Tesla's technology was no threat, two of the sources said.Toyota discontinued the electric RAV4 in 2014 and sold its stake in Tesla in 2017.
By 2018, when Toyota finally set up a dedicated zero-emissions division and began building an e-platform, Tesla already had three models on the road.
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