Toyota Motor Corp and Tesla Motors have formed a joint project where they would be developing battery powered prototype models. Both the company are well known for their Electric car development technology and they are now going to create crossovers between the Toyota RAV$ ad the Lexus RX. Business week reports have reported this matter as having received it from some authentic source, but Toyota has not confirmed anything as yet.
Sometime in the beginning of this moth an executive from Tesla had stated that they would be delivering two EV prototypes to Toyota by end July. He had however refused from divulging any further specifics of the cars.
The inside information yet unconfirmed also states that there would also be an all electric Corolla by Toyota there would also be two SUV models which would be better suited to the Telsa battery pack in terms of weight.
In an e-message received recently he chief executive officer of Telsa, Elon Mush says has stated “We anticipate range and acceleration exceeding that of other announced electric vehicles of this class.”
In the partnership agreement formed between Telsa and Toyota in May 2010, Telsa got rights over Toyota’s NUMMI plant in California. This is where Telsa plans to build its Model S and other vehicles. Toyota on its part bought a $50 million stake in the electric car producer.
There has been a further investment of $50 million in Telsa by the owners of Mercedes Benz, Daimler AG. The investment in 2009 has however been reduced to 5 percent its stake in Telsa which was 10 percent. They did so by selling part of the stake to Aabar Investments PJSC who is Daimler’s largest shareholder.
Source: carscoop
