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Tesla Motors and Toyota Motor Corporation Formalize Agreement to Develop Electric Version of RAV4
by Jamie Wilson
Palo Alto, California, U.S.A., and Tokyo, Japan — TESLA MOTORS, INC. (Tesla) and TOYOTA MOTOR CORPORATION (TMC) today announced that the two companies have signed an agreement to initiate the development of an electric version of the RAV4 as announced in May of this year by Elon Musk and Akio Toyoda. Tesla plans to produce and deliver a fleet of prototypes to Toyota for evaluation within this year. The first prototype has already been built and is now undergoing testing.

TMC introduced the first-generation Prius hybrid vehicle in 1997. The company also plans to introduce EVs into the market by 2012. Tesla’s goal is to produce increasingly affordable electric cars for mainstream buyers – relentlessly driving down the cost of EVs. California-based Tesla designs and manufactures EVs and EV powertrain components, and is currently the only automaker in the U.S. that builds and sells highway-capable EVs in serial production.

That means more affordable electric vehicles for us the consumer! Keep Movin' Forward.....Toyota!!! We're Lovin' It!!!
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