Toyota Buys Stake in Tesla Motors
May 21, 2010 /EIN Presswire/ -- Tesla Motors, the small manufacturer trying to become a big player in the emerging electric vehicle market, got a big boost today with the news that Toyota is buying a $50 million stake in the company.
Tesla also announced that it will buy a closed Toyota factory in California to build its vehicles and that Tesla and Toyota will cooperate in developing electric cars, parts, production systems and engineering support.
The deal is expected to help Toyota sell electric cars in the US and improve its US image after the disastrous recalls it has recently been forced to undertake.
Read more at Electric Cars News Today:
Tesla Motors news - http://electriccars.einnews.com/news/tesla
Located at http://electriccars.einnews.com, Electric Cars News Today is a service of EIN News, a global news monitoring service for researchers and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers the latest electric car news from more than 7,000 news sites from around the world. The latest news updates on these topics are also available in email and RSS formats.
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Tesla also announced that it will buy a closed Toyota factory in California to build its vehicles and that Tesla and Toyota will cooperate in developing electric cars, parts, production systems and engineering support.
The deal is expected to help Toyota sell electric cars in the US and improve its US image after the disastrous recalls it has recently been forced to undertake.
Read more at Electric Cars News Today:
Tesla Motors news - http://electriccars.einnews.com/news/tesla
Located at http://electriccars.einnews.com, Electric Cars News Today is a service of EIN News, a global news monitoring service for researchers and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers the latest electric car news from more than 7,000 news sites from around the world. The latest news updates on these topics are also available in email and RSS formats.
About EIN Presswire
The EIN Presswire press release service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals through more than 90 industry channels. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the press release live feed at http://www.einpresswire.com and the latest world news at http://www.einnews.com.
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