News
Comment

Tesla Motors and Toyota Motor Corporation intend to work jointly on EV Development

(May 27, 2010) - Tesla Motors, Inc. (Tesla) and Toyota Motor Corporation (TMC) say they intend to cooperate on the development of electric vehicles, parts, and production system and engineering support.

  • The beginning of morning rush hour, cars on the highway traveling to and from downtown

(May 27, 2010)

Tesla Motors, Inc. (Tesla) and Toyota Motor Corporation (TMC) say they intend to cooperate on the development of electric vehicles, parts, and production system and engineering support.

The two companies intend to form a team of specialists to further those efforts.

TMC has agreed to purchase (US)$50 million of Tesla’s common stock issued in a private placement to close immediately subsequent to the closing of Tesla’s currently planned initial public offering.

Tesla’s goal is to produce increasingly affordable electric cars to mainstream buyers – relentlessly driving down the cost of EVs.

Palo Alto, CA-based Tesla has delivered more than 1000 Roadsters to customers in North America, Europe and Asia. Tesla designs and manufactures EVs and EV powertrain components.

It is currently the only automaker in the U.S. that builds and sells highway-capable EVs in serial production. The Tesla Roadster accelerates faster than most sports cars yet produces no emissions.

Tesla service rangers make house calls to service Roadsters.

    Avatar
    Wheels.ca
    Show Comments