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Toyota and Tesla Motors Announce Partnership

Toyota and Tesla Motors have announced a cooperative realtionship between the companies to pursue development of Tesla's Model S electric sedan. Tesla has also acquired the former NUMMI plant in California, site of an earlier joint venture between Toyota and GM. Tesla expects to hire approximately 1,000 workers to build the Model S in California, and their long term projection is for the creation of 5,000 direct and 5,000 indirect jobs.

The partnership benefits both manufacturers, as Tesla now has better access to design, production and testing resources and can tap into Toyota's existing platform and parts catalog. Toyota gets to partner with a leader in the electric car industry and can tie into Tesla's electric vehicle design and production experience. The Tesla Model S is expected to begin production sometime in 2011 and will hit dealer showtrooms as a 2012 model.

Source: RideLust

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