Toyota and Tesla to tag-team on EV production

[Swiseone]

http://www.carsales.com.au/news/2010/tesla/toyota-and-tesla-to-tagteam-on-ev-production-19457

EV joint venture saves Toyota's California plant and secures Tesla's future

The recently shuttered New United Motor Manufacturing, Inc (NUMMI) facility, formerly a joint venture between Toyota and General Motors, has secured an eleventh-hour reprieve.

During a press conference late last week at Tesla's Palo Alto headquarters, California governor Arnold Schwarzenegger, flanked by Tesla CEO Elon Musk and Toyota CEO Akio Toyoda, announced the two companies will combine efforts to produce the all-electric Tesla Model S at the Fremont (California) facility from 2012.

Representing a $50M investment from Toyota, the plant can now tool-up for production of the sporty environmental crusader, while at the same time re-hiring almost 1000 ex-NUMMI employees.

Speaking at the conference, Musk said the joint venture could eventually create up to 10,000 new jobs.

"Toyota is making an investment in Tesla. We're going to also be at the NUMMI plant," said Musk. "We will be purchasing the NUMMI plant and making Model S and other cars there."

While keeping mum on the specifics of the "other cars" and indeed the partnership's structure, Musk did say Tesla would contribute "a couple of hundred million" dollars in the facility over the next few years.

The deal has taken eight weeks to bear fruit, with Toyoda himself travelling to the US to meet with Musk face-to-face.

"I myself spent time at NUMMI and learned much of working in America there and feel a sense of attachment there," Toyoda said. "The DNA developed at NUMMI will live on in an industry for the future."

Toyoda, himself a keen motor sport enthusiast, enjoyed a test-track drive of the Tesla roadster during his stay, saying the vehicle had inspired him.

"Not only was I impressed by the technology but I felt this energy seeing they made the vehicle in extremely short time," Toyoda said. "I felt the wind, the wind of the future while driving. I talked with Mr. Musk and was extremely moved by his dedication."

Heading up the new joint venture is former Toyota production engineering general manager, Gilbert Passin. With 23 years automotive experience, Passin comes to the project with a high-ranking CV including names such as Volvo, Mack and Renault.

Determined to become an electric vehicle tour de force, the latest announcement follows news of a $465M Department of Energy loan guarantee sprung to Tesla for its battery manufacturing plant last month. The company also filed publically in January hoping to raise a further $100M in capital.

Toyota, manufacturer of the popular Prius and Camry Hybrid models, said it plans to introduce its own fully electric vehicle by 2012.

Tesla is also owned in-part by Daimler AG, the German firm recently purchasing a 10 per cent equity stake in the US company.

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Published : Monday, 24 May 2010

[Silver-Aurion]

Cool! I love Tesla and good on Toyota! Let the EV future begin

[SuperDave]

Can't wait to the the R/C electric car technology carry over

[Swiseone]

yeah i believe toyota once had an f1 equivilant ev car but i forget the exact figures of top speed and so on but it was pretty intense the only problem was there was a hydrogen build up and the batteries ran so hot etc that if the car were to have a serious smash you basically had a car with a h bomb strapped to the chassis.. mind you this was in i think the 1970's so surely they've over come these types of things...

[httttt]

This is good news.

I hope to see a sub 6 second 0-100 electronic car in Australia soon.

Theoretically tho, if everyone actually started buying electronic cars would gas prices go up?

[VF-X]

This is good news.

I hope to see a sub 6 second 0-100 electronic car in Australia soon.

Theoretically tho, if everyone actually started buying electronic cars would gas prices go up?

Nah.. It'll go down instead since the demand is low... In fact, the price of electrity will go up.. Lots of demand...

[Silver-Aurion]

This is good news.

I hope to see a sub 6 second 0-100 electronic car in Australia soon.

Theoretically tho, if everyone actually started buying electronic cars would gas prices go up?

Nah.. It'll go down instead since the demand is low... In fact, the price of electrity will go up.. Lots of demand...

Not really, not in a very very very long time, even if half the worlds cars were electric and half were ICE, EV's would still pollute less.