Toyota (TM) Invests $50 Million In Tesla Motors To Produce Electric Sedan

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07:48:23 am on May 21, 2010

Toyota Motors (TM) and Tesla Motors announced this morning that they are partnering to produce Tesla electric cars in a recently closed Toyota/GM plant in Fremont, California.  The plant was closed just a few weeks ago, taking 4,700 jobs with it, but reviving the plant is good news at least for a portion of the workers.  When production begins in 2012, about 1000 workers will be needed.

Tesla currently sells the Roadster, but the new factory will be used to produce the less expensive Model S electric sedan and possibly another vehicle that is more affordable.  The sedan is expected to go on sale in 2012 with a price tag of $50K.

This is great news for Tesla in that it now has a worldwide recognized brand behind it.  While Toyota is expected to sell a plugin version of the Prius in 2012, this provides them a stake in the higher end electric car market.  GM’s Volt and Nissan’s Leaf electric cars will go on sale this year. 

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We are intent on commercializing automobiles with our high efficiency engine, enabling 150MPG on a gallon of 139,000 BTU diesel. It will bend the energy and engine curve. Love EV’s but, this ICE, will bring traditional autos into the 21st century. Lots of symbiotic relationships.

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