Electric Vehicle - Tesla scores $100 million Toyota RAV4 EV-related contract
The upcoming RAV4 EV from Toyota, fearures a big chunk of technology and services from the electric vehicle manufacturer Tesla. It involves a nice chunk of $100m, which will greatly help in getting Tesla's Model S on the road.
It is deals like these that lead me to wonder if Tesla is either going for their own, unique line of vehicles, do they want their Tesla tech and knowhow inside all the other car manufacturers cars, or is their ambition big enough for both? For now, it seems the new RAV4 EV has Tesla Inside.
Tesla scores $100 million Toyota RAV4 EV-related contract
Buried within its latest U.S. Securities and Exchange Commission (SEC) filing, Tesla Motors revealed that its deal with Toyota is to be pumped up, with the Japanese automaker agreeing to fork over an additional $100 million to Tesla. Initially, word of the agreement brought trading of Tesla stock (NASDAQ ticker symbol: TSLA) to an immediate halt. However, the freeze was short-lived, with TSLA shares currently trading in the ballpark of $29.