Toyota invests in Telsa Motor, intends to jointly build EV's.

**West** · 05-30-2010, 09:44 AM

In light of recent Hybrid rumors we ran across this nugget of information. However hopefully unrelated in the future of the FT-86 realm, Toyota has made a surprise decision: a $50 million purchase of common stock ownership in Telsa Motors, a leader in the way of Electronic Vehicles (EVs). Telsa plans to setup shop at the NUMMI plant in California.

Telsa already in the sporty EV realm offers its all electric vehicle called the Roadster, which sells for $100,000. Telsa is also working on a the Model S, sporty 4 door for about $50,000 beginning in 2012.

FT-86 fans can only sit back and hope the final product ends up more "86" than "EV". With the recent rumors of Hybrid, Redesigns, Increased Price. One could be fearful that Toyota has lost sight of what originally drew massive interest in the FT-86, which has everything to do with the "86" in FT-86 naming convention.

PALO ALTO, CA - MAY 20: (L-R) California governor Arnold Schwarzenegger, Toyota CEO Akio Toyoda and Tesla Motors CEO Elon Musk pose in front of a Tesla Model S before a news conference at Tesla Motors headquarters May 20, 2010 in Palo Alto, California. Electric car maker Tesla Motors announced a partnership with Japanese automaker Toyota to make electric cars in the United States. The cars will be manufactured at the recently shuttered NUMMI plant in Fremont, California where Toyota had pulled out after a joint partnership with General Motors had ended. (Photo by Justin Sullivan/Getty Images)

Tesla Motors and Toyota Motor Corporation Intend to Work Jointly on EV Development, TMC to Invest in Tesla

PALO ALTO, CALIFORNIA, U.S.A. – TESLA MOTORS, INC. (Tesla) and TOYOTA MOTOR CORPORATION (TMC) today announced that they intend to cooperate on the development of electric vehicles, parts, and production system and engineering support.

The two companies intend to form a specialist team to further those efforts. TMC has agreed to purchase $50 million of Tesla’s common stock issued in a private placement to close immediately subsequent to the closing of Tesla’s currently planned initial public offering.

"I’ve felt an infinite possibility about Tesla’s technology and its dedication to monozukuri (Toyota’s approach to manufacturing)," said TMC President Akio Toyoda. "Through this partnership, by working together with a venture business such as Tesla, Toyota would like to learn from the challenging spirit, quick decision-making, and flexibility that Tesla has. Decades ago, Toyota was also born as a venture business. By partnering with Tesla, my hope is that all Toyota employees will recall that ‘venture business spirit,’ and take on the challenges of the future."

"Toyota is a company founded on innovation, quality, and commitment to sustainable mobility. It is an honor and a powerful endorsement of our technology that Toyota would choose to invest in and partner with Tesla,” said Tesla CEO and cofounder Elon Musk. “We look forward to learning and benefiting from Toyota’s legendary engineering, manufacturing, and production expertise."

TMC has, since its foundation in 1937, operated under the philosophy of “contributing to the society through the manufacture of automobiles,” and made cars that satisfy its many customers around the world. TMC introduced the first-generation Prius hybrid vehicle in 1997, and produced approximately 2.5 million hybrids in the twelve years since. Late last year, TMC started lease of Prius Plug-in Hybrids, which can be charged using an external power source such as a household electric outlet. The company also plans to introduce EVs into the market by 2012.

Tesla's goal is to produce increasingly affordable electric cars to mainstream buyers – relentlessly driving down the cost of EVs. Palo Alto, CA-based Tesla has delivered more than 1000 Roadsters to customers in North America, Europe and Asia. Tesla designs and manufactures EVs and EV power-train components. It is currently the only automaker in the U.S. that builds and sells highway-capable EVs in serial production. The Tesla Roadster accelerates faster than most sports cars yet produces no emissions. Tesla service rangers make house calls to service Roadsters.

Source: Tesla Motors - Press Releases

**HyperFX** · 05-30-2010, 09:44 PM

I believe in Toyota's stratagies and in the wake of BP oil spills in the Gulf of Mexico, going electric is a smart path to take in the long run. Of course to the die hard gear head, electric motors may sound like sissy talk but think about it, 4 motors for every wheel can produce about 1000 bhp and zero emissions! Good luck Toyota, It may not be a popular choice but I still support your views. We have to get off oil fast but preserve horespower and the spirit of driving. By the way, i've seen and heard the Tesla in traffic. They are fast!