Tesla Partners Up With Toyota — More Electric Vehicles Are Coming!

Tesla has completed the NUMMI production facility purchase, where they plan to build 20,000 Model S sedans each year.

Furthermore, Toyota will step in to help Tesla. The two automakers will co-exist to develop electric vehicles and various parts. The reason behind this would obviously allow Toyota to penetrate a more exclusive electric market.

Tesla’s Model S platform allows for a load of new models based on the same technology and Toyota wants in.

Toyota has purchased $50 million of Tesla common stock.

Akio Toyoda said, “Through this partnership…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.”