Looks like I need to update the Automotive Family Tree. Toyota and Tesla will become partners to produce electric vehicles, with the possibility of Toyota following in Daimler lead and owning a stake of Tesla after it goes public.
A few more details about the deal:
1. Toyota to make a sub-$30,000 EV with Tesla’s unique powertrain design.
2. Tesla will build its Model S sedan at the NUMMI plant that Toyota once owned with GM.
3. A $50 million investment when it goes public, maybe.
Source:autoweek.com
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