A Partnership Announced Among Toyota and Tesla

May 21, 2010 / by / 0 Comment

Toyota and Tesla are again together with the news of a new partnership and this event took place at the Tesla headquarter in Palo Alto. The collaboration will be made on technology and on the development of new vehicles. At the time of announcing this partnership it has been notified that Toyota will purchase $50million of Tesla common stock and with that Tesla announced that it will take over new united motor manufacturing Inc (NUMMI) plant in Fremont and it expects that the development of the model S EV will also take place in this plant.

Toyota and Tesla

The press conference basically features the Governor of California, Arnold Schwarzenegger, Tesla CEO, Elon Musk  and TMC President, Akio Toyoda and it was called as the explosion of California. While discussing about this deal Elon Musk stated that “We look forward to learning and benefiting from Toyota’s legendary engineering manufacturing and production expertise”. The NUMMI which is going to be the new development house for Tesla will soon be able to bring 20,000 models of EV once the product gets started.

Significantly this partnership can prove to be very affective for both of these companies as from this new relation both companies will come up with their limitation and get the maximum benefit out of each other.

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