Two of the great companies in the automobile industry are now working hand on hand in coming up with their very own version of an electric car. Tesla Motors, a small US electric car maker based in California and Toyota, one the leading car makers in the industry entered into a deal and are presently working on planting an electric engine into two Toyota prototype vehicles.
According to some reports, Toyota has entered a $50 million investment in Tesla Motors following its initial public offering that happened last June 29. This investment was made by Toyota with its intention of developing future alternatives for fuel being the main power source for vehicles. With this partnership with the world’s largest automobile maker, Tesla might be on its initial step of being a household name.
At first, Toyota has been in doubt before regarding the marketability of electric cars. But entering this partnership with Tesla only proves that somehow they have seen a potential for this automobile type in the industry. And $ 50 M is a big investment after all.
This tie-up between Toyota and Tesla is very significant since both of them are involved in the development of alternative fuel technologies. In fact, Toyota’s Prius was the first hybrid vehicle that was produced with around 2.5 M units while Tesla’s Roadster electric sports car, which is capable of covering 250 miles with only a single recharge, is doing good and being known for its high performance and alternative fuel technology. Around 1,000 Tesla Roadster have been distributed to customers all around the globe.
In the future Toyota and Tesla hopes to release a new electric car. With Toyota’s commitment to quality, innovation and sustainable mobility and Tesla’s great potential in technology, surely this electric car will be something to look forward to.
It is firmly believe that in the coming months, as some experts say that Toyota and Tesla might be a tough competitor to beat. As a matter of fact, General Motors have plans of coming up with vehicles running on batteries with hybrid volt. Nissan also have expressed its intention of coming with an all-electric Leaf like some of Tesla’s model.
For now, we’ll just have to wait for the result of this collaboration of Toyota and Tesla. But with this partnership, we got some idea that a great electric car is coming our way.
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