Pomerance and Associates

Tesla and Toyota: A New EV Team in Town

May 21, 2010 | by Rachel | filed under: Electric Vehicles, Elon Musk, Tesla, Toyota

Toyota is banking on Tesla.

The world’s largest automaker is investing $50 million in Tesla once the startup goes public. Tesla bought the Fremont, Calif.-based New United Motor Manufacturing Inc. (NUMMI) plant, which Toyota shuttered in April, where the companies will work together to build Tesla’s Model S and other EVs.

The announcement was at Tesla’s  Palo Alto headquarters Thursday by Toyota CEO Akio Toyoda, Tesla CEO Elon Musk and Gov. Arnold Schwarzenegger.

http://www.npr.org/templates/story/story.php?storyId=127027119

 http://tinyurl.com/26e4soq