Home Page About Us Contribute

American Government Special Collections Reference Desk

Escort, Inc.

Tweets by @CrittendenAuto

GM Icons
By accessing/using The Crittenden Automotive Library/CarsAndRacingStuff.com, you signify your agreement with the Terms of Use on our Legal Information page. Our Privacy Policy is also available there.

Toyota, Tesla to develop electric SUV

Topics:  Toyota, Tesla

Toyota, Tesla to develop electric SUV

July 17, 2010

Toyota Motor Company announced they have formalized an agreement to develop an electric version of the RAV4 SUV with Tesla Motors.

In May 2010, Akio Toyoda and Elon Musk, leaders of Toyota and Telsa, respectively, announced they would work together on electric vehicles. The agreement formalizes this announcement and would allow Tesla to work with Toyota at an automobile production plant in California.

The plant will open 2011, when Tesla reopens it after it bought the Fremont, California plant. The plant was previously used by Toyota and General Motors, but was shut down when Toyota said it would not produce cars in California.

Tesla currently produces only a single model, the US$109,000 Roadster, although it is currently designing a second model, the Model S, which will be produced at the Fremont factory.

Analysts supported the move; John Boesel, CEO of a green-transportation trade group, said that "Toyota's willingness to partner with Tesla to provide an electric version of one of the Japanese automaker's existing vehicles suggests the partnership between the two companies is going to be a meaningful one."

Following this announcement, Telsa's shares rose $0.75, while Toyota's fell $1.65.

This article is licensed under the Creative Commons Attribution 2.5 License.

Connect with The Crittenden Automotive Library

The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Instagram The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Pinterest The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Tumblr

The Crittenden Automotive Library

Home Page    About Us    Contribute