Much has been made of the partnership between Tesla Motors (TSLA) and Toyota (TM) to develop the RAV4 all electric SUV, but little has been announced to make the partnership official.  This morning it’s official with news that the companies have signed a $60 million Phase I contract services agreement which has Tesla developing a powertrain system, including a battery, power electronics module, motor, gearbox and associated software.  The payment will be made over time … Read the rest

According to Bloomberg, Toyota (TM) and Tesla (TSLA) showcased their jointly developed RAV4 electric SUV to US dealers at an annual meeting in Las Vegas yesterday.  The RAV4 is expected to go on sale in 2012.

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The companies declined to comment on the Las Vegas meeting, but Tesla said in a statement yesterday that it is readying a range of hybrids and all … Read the rest