Tesla (TSLA) Partner Toyota (TM) Sees No Market for All-Electric Vehicles.

Looking to bolster the image of its Prius hybrid and other non-fossil fuel autos, Toyota (NYSE: TM) chairman Takeshi Uchiyamada said, "The reason why Toyota doesn't introduce any major [all-electric product] is because we do not believe there is a market to accept it...Some people say hybrid vehicles such as the Prius are only a bridge to the future...But we think it could be a long bridge and a very sturdy one. There are many more gains we can achieve with hybrids. He was speaking at the Economic Club in Washington, D.C.

Toyota currently relies on Tesla Motors (Nasdaq: TSLA) to supply equipment for the electric version of its RAV-4 sport utility, the WSJ noted today. Toyota's relationship with Tesla hasn't changed the company's outlook for all-electric vehicles.

Toyota is Tesla's ninth-largest shareholder.

Shares of Toyota are down on the session, while Tesla is trading positive.

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