Toyota and Tesla Motors have announced that they are forming a joint development team to collaborate on electric vehicles and parts - as well as production and engineering expertise. As part of the partnership, Toyota will invest $50 million in Tesla common stock.
The announcement was made today by Tesla Founder/CEO Elon Musk and Toyota global President Akio Toyoda at Tesla headquarters in Palo Alto, CA, USA.
They were joined by California Governor Arnold Schwartzenegger.
To find out more details, visit - http://pressroom.toyota.com/pr/tms/tesla-motors-and-toyota-motor-159048.aspx.
