TMC to Invest in Tesla for EV Development

I don't think this will affect FT86 or LF-A, just a future investment.

Toyota Motor Corp., the world's largest automaker, said it doesn't yet have a formal plan to develop an electric car with startup Tesla Motors Inc., after a report that such a project will occur this year.

Kyodo News said Friday that Toyota plans to develop a prototype battery-powered model with Palo Alto-based Tesla by the end of 2010, citing sources at the Japanese automaker who weren't identified.

Engineers from the companies met for the first time last week to discuss the project, the Japanese news service said.

"No plans nor timetable have been established regarding vehicle development," Mike Michels, a spokesman for Toyota's U.S. unit, told Bloomberg News Friday.

Toyota under a plan announced May 21 is buying a $50 million stake in Tesla and cooperating with the maker of $109,000 battery-powered Roadster sports cars.

Toyota President Akio Toyoda said in an interview last month that his company may sell an electric vehicle developed by the two companies, with no specific plan set.

As part of their arrangement, Tesla has said it intends to buy Toyota's former New United Motor Manufacturing Inc. joint- venture plant for $42 million.

The Fremont factory is to begin making Tesla's Model S sedan by 2012, according to Elon Musk, the electric-car maker's chief executive officer.

Palo Alto, California, U.S.A., and Tokyo, Japan — TESLA MOTORS, INC. (Tesla) and TOYOTA MOTOR CORPORATION (TMC) today announced that the two companies have signed an agreement to initiate the development of an electric version of the RAV4 as announced in May of this year by Elon Musk and Akio Toyoda. With an aim to market the EV in the United States in 2012, prototypes will be made combining the Toyota RAV4 model with a Tesla electric powertrain. Tesla plans to produce and deliver a fleet of prototypes to Toyota for evaluation within this year. The first prototype has already been built and is now undergoing testing.

In May, Tesla and TMC announced their intent to cooperate on the development of electric vehicles, parts, and production system and engineering support. Tesla seeks to learn and benefit from Toyota’s engineering, manufacturing, and production expertise, while Toyota aims to learn from Tesla’s EV technology, daring spirit, quick decision-making, and flexibility.

TMC has, since its foundation in 1937, operated under the philosophy of “contributing to society through the manufacture of automobiles,” and made cars that satisfy its many customers around the world. TMC introduced the first-generation Prius hybrid vehicle in 1997. The company also plans to introduce EVs into the market by 2012.

Tesla’s goal is to produce increasingly affordable electric cars for mainstream buyers – relentlessly driving down the cost of EVs. California-based Tesla designs and manufactures EVs and EV powertrain components, and is currently the only automaker in the U.S. that builds and sells highway-capable EVs in serial production.

TESLA Motors belongs to the trusted names when it comes to Auto Industry and nobody has a doubt to that. This action is great that two huge names in Auto sales have joined in one force. Nevertheless, scanning the concerns of consumers in different blog sites, I've realized that it is common for people to want to know what driving techniques will save them cash in gas. Although there are products around that will allegedly assist with this, lots of that isn’t precise.

I read this here: Coasting while in neutral is dangerous and does not save gas

Driving techniques like hypermiling have grounding in scientific fact. Popular Mechanics reports that coasting in neutral won’t do anything close to what effective hypermiling is going to do for you. Not only does it not save gas, but it is unsafe.