Japanese major Toyota is lining up a strategic partnership with Tesla Motors in a bid to manufacture electric vehicles. The move comes as a follow up in its efforts to meet California’s demand for greener cars that has been on the rise. Toyota is looking at pumping in an investment of close to $50 million in the partnership with Tesla.
The new initiative is seen as a boon by California’s Bay Area. Expected to prove to be a noble venture that would result in absolutely nil CO2 emissions as well as job generation, the partnership for EVs will also bring to the fore Tesla Motors’ much popular, iconic design that would go into the making of the cars. The new EVs are expected to sport price tags that would be around $49,900. The new cars are also expected to return 300 miles on a 3-5 hour charge.
The cars will be manufactured and assembled for sale at the New United Motor Manufacturing Inc, popularly known as Nummi, in Fremont. The Toyota plant here will re-open under the Tesla/Toyota partnership to produce the EVs, christened Model S sedans. The cars are expected to roll out in year 2012.
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