On Thursday, May 20, 2010 the auto world announced a surprising partnership deal between, electric car maker Tesla Motors Inc. and Toyota Motors Corp., to help build and develop electric automobiles at a recently closed Toyota auto plant in Fremont, California located in the San Francisco Bay Area .
The Tesla auto plant was originally eyed for Downey, California. The city of Downey spent months courting Tesla to open its factory there, and were just moments away from signing a deal until Tesla sealed a deal with Toyota on Wednesday May 19, 2010.
Toyota Motors Corp., one of the world’s largest automakers, said it would invest $50 million for a stake in U.S. electric car maker Tesla Motors, a move that gives the Japanese automaker a chance to repair its shattered image and puts the California based electric car start-up Tesla on global level.
Tesla will build its upcoming all-electric Model S sedan at the former Toyota auto plant named “Nummi” in Fremont, CA. The Model S will be priced at $49,900, and is designed to travel up to 300 miles on a 3 to 5 hour charge. The Model S Tesla is scheduled to go on sale in 2012.
California Governor Arnold Schwarzenegger said the Toyota-Tesla move is a good one for the economy and could eventually create 1,000 jobs.
Tesla looks to benefit from Toyota’s experience in mass production and Toyota aims to win back the support from those who were hurt by its Prius hybrid recalls. The main goal of Tesla is to create affordable electric automobiles for the masses.
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