Recently, it was announced Toyota would buy a large stake in Tesla Motors, the electric car business. Entirely electric sports cars that can do over 100 miles per hour with ease are what got Tesla their claim to fame. Any car going from 0 to 60 is an achievement, but the flagship model for Tesla, the Tesla Roadster does it without the use of gasoline. The business had experienced lagging revenues, and also the deal was announced ahead of an First Public Offering to boost revenue.
Article Source~Article Resource~Source for this article~Resource for this article: Tesla and Toyota 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. Toyota pledged to put up $ 50 million after Tesla Motors announced a forthcoming IPO to raise capital after some losses. According to the New York Times, Tesla Motors had suffered losses of more than $ 56 million in 2009, and it filed for an Initial Public Offering of stock to boost capital. The Tesla Roadster starts at about $ 109,000, so auto loan applications for the car are considerable.
The Tesla Roadster
The claim to fame for Tesla Motors is the Tesla Roadster, the fastest production electric or hybrid car. The essential model goes from 0 to 60 in 3.9 seconds. The Tesla Roadster Sport accomplishes it in 3.7 seconds, and costs $ 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.)
A good thing for both
Tesla and Toyota stand to benefit. Tesla is a green manufacturer, already producing an eco-friendly sports car, and soon the business will start manufacturing the Tesla Model S, a family sedan that will retail for less than $ 60,000. Toyota comes to the deal by putting up the Tesla Model S production in the NUMMI manufacturing complex, which was recently closed. It seems a Tesla of any sort creates sparks wherever it goes.
Article resources
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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