Tesla and Toyota

On May 20, 2010, Tesla and Toyota announced a partnership to work on electric vehicle development, which included Toyota’s US$50 million future conditional investment in Tesla and Tesla’s US$42 million purchase of a portion of the former NUMMI factory. Musk said the Model S sedan will be built at the plant, which is about 20 miles (32 km) east of the company’s headquarters in Palo Alto, California. Tesla and Toyota also said that they intend to cooperate on the development of electric vehicles, parts, and production system and engineering support. It was announced that an electric version of the Toyota RAV4 would be mass produced in 2012. The jointly developed RAV4 electric vehicle will be built at Toyota’s Woodstock, Ontario.

Read more on:

http://www.teslamotors.com/about/press/releases/tesla-motors-and-toyota-motor-corporation-intend-work-jointly-ev-development-tm

http://venturebeat.com/2011/07/20/tesla-toyota-100m-rav4-deal/

http://www.businessgreen.com/bg/news/1805184/tesla-toyota-seal-electric-car-alliance

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