Cars

Toyota plans to sell Denso shares

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Japanese automaker Toyota is planning to sell about 10 percent of parts maker Denso by the end of the year, a stake likely to be worth about $4.7 billion, Reuters reported on Tuesday.

The Denso stake sale would mark the latest step by the world's best-selling automaker to cash in on subsidiary shares as it ramps up production of fully electric vehicles, a capital-intensive effort that includes research and development to an overhaul of the factory.