Last week Tesla Motors and Toyota Motor Corporation announced that the two firms intend on co-developing electric vehicles and parts, using each other production systems and engineering support, as well as the formulation of a specialised team to maximize effiency on those fronts – with TMC promising to purchase $50 million worth of Tesla’s stock.
“I sensed the great potential of Tesla’s technology and was impressed by its dedication to monozukuri (Toyota’s approach to manufacturing). 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,” said Toyota Motor Corporation President Akio Toyoda.
Toyota’s been at the forefront of electric car development for some time now, having produced in the region of 2,5 million hybrids since 1997, which was when the first-generation Prius was launched. Last year, Toyota 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.
“Toyota is a company founded on innovation, quality, and commitment to sustainable mobility. It is an honour and a powerful endorsement of our technology that Toyota would choose to invest in and partner with Tesla. We look forward to learning and benefiting from Toyota’s legendary engineering, manufacturing, and production expertise.” said Tesla CEO and cofounder Elon Musk.
The Palo Alto, California-based Tesla has delivered just over 1 000 of its range-topping Roadsters to customers in North America, Europe and Asia – with service “rangers” making house calls to service Roadsters.