Toyota and Tesla Join Forces to Build Electric Cars Read more: Toyota and Tesla Electric Cars - Partnership Between Toyota and Tesla - Popular Mechanics

Yesterday, Tesla and Toyota announced a partnership to build electric cars. At a press conference attended by California governor Arnold Schwarzenegger, Toyota president Akio Toyoda and Tesla chief Elon Musk, Toyota announced that it had invested $50 million in Tesla in return for common stock. Also, the two companies plan to share technology, EV research and production techniques.
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Tesla, which received a nearly half-billion-dollar loan from the federal government last year, revealed that it had purchased the Nummi assembly plant in Fremont, Calif. Nummi http://www.popularmechanics.com/cars/news/industry/4350856?click=main_sr is where Toyota and General Motors collaborated to build the Toyota Corolla and the Pontiac Vibe, among other vehicles. The plant recently closed.

Tesla has sold about 1000 of its $100,000-plus electric Roadster. The company expects to produce its next car, the electric model S, in Nummi next year. The Model S is an electric sedan, with a base price closer to around $50,000. It remains to be seen if Tesla can actually deliver the new car at that price, but access to Toyota’s lean production methods will certainly help.

Read more: Toyota and Tesla Electric Cars - Partnership Between Toyota and Tesla - Popular Mechanics