Recently, it was announced Toyota would purchase a big stake in Tesla Motors, the electric car business. Tesla specializes in high-end, all-electric roadsters, including an electric sports car capable of doing more than 100 miles per hour. Its flagship model, the Tesla Roadster, is capable of going from 0 to 60 in less than four seconds, which is a considerable feat for any car. The company had seen lagging revenue, and announced an First Public Offering after which Toyota announced it would purchase a large stake.
Article Source~Article Resource~Source for this article~Resource for this article: Toyota and Tesla team to top electric car market
The Tesla Toyota Deal
The Toyota Prius is one of the best selling hybrids on the market, so Toyota already is a leader in hybrid and electric car developments. Boutique electric car company Tesla Motors announced an IPO was forthcoming as it needed to raise capital, and Toyota has thus far pledged $ 50 million. As outlined by the New York Times, Tesla announced an IPO to raise capital after losing $ 56 million over 2009. The Tesla Roadster starts at $ 109,000, so the auto loans bad credit you have to get one are hefty.
The flagship Tesla Roadster
The Tesla Roadster, the flagship for Tesla Motors, is the fastest production hybrid or electric car. The basic model goes from 0 to 60 in 3.9 seconds. The Tesla Roadster Sport accomplishes it in 3.7 seconds, but for $ 20,000 more. That’s nothing new for cars in general, but for an electric or hybrid, that is impressive. (Should you wonder, the fastest non-boutique production car from a major domestic manufacturer is the Corvette ZR1.)
Good for both
This benefits both Toyota and Tesla. Tesla is a green manufacturer, already producing an eco-friendly sports car, and soon the company will start manufacturing the Tesla Model S, a family sedan that will retail for under $ 60,000. Toyota comes to the deal by putting up the Tesla Model S production in the NUMMI manufacturing complex, which was recently closed. A Tesla of any sort tends to create serious sparks.
Citations
New York Times
http://dealbook.blogs.nytimes.com/2010/05/24/toyota-tesla-style/?src=busln
Tesla Roadster
http://en.wikipedia.org/wiki/Tesla_Roadster
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