Just when Toyota looked like it was beginning to be beaten at its own alt-fuel game by the likes of Nissan and GM, they make a daring move by partnering with Tesla Motors to develop future Electric Vehicles. With an investment of $50 million and the sale of the NUMMI production facility to Tesla, Toyota is in exchange getting a partner with a start-up spirit and a much-needed fast track to electric vehicles. In a statement from TMC President Akio Toyoda he said,“Through this partnership, by working together with a venture business such as Tesla, Toyota would like to learn from the challenging spirit, quick decision-making, and flexibility that Tesla has. Decades ago, Toyota was also born as a venture business. By partnering with Tesla, my hope is that all Toyota employees will recall that ‘venture business spirit,’ and take on the challenges of the future.”
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Posted by: Ting Wu | 09/27/2011 at 07:06 PM