Tesla and Toyota team to top electric car market

It was announced last week that Toyota would be purchasing a large stake in Tesla Motors, the electric car manufacturing firm. Tesla has a claim to fame of making high end completely electric roadsters that can do 100 miles per hour with impunity. Its flagship model, the Tesla Roadster, is capable of going from 0 to 60 in less than four seconds, which is a considerable feat for any car. The company had seen lagging revenue, and announced an Initial Public Offering after which Toyota announced it would buy a large stake.

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Toyota and Tesla

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 announced an IPO to raise capital after losing $ 56 million over 2009. The Tesla Roadster starts at about $ 109,000, so auto loans for the car are considerable.

Tesla Roadster the flagship

The claim to fame for Tesla Motors is the Tesla Roadster, the fastest production electric or hybrid car. Their basic model can get from 0 to 60 miles an hour in 3.9 seconds. The Tesla Roadster Sport accomplishes it in 3.7 seconds, but costs about $ 20,000 a lot more. Granted, that is not exactly a time for the record books, but it is as far as hybrid and electric cars are concerned. (In case you should wonder, the fastest car that comes stock from a major domestic is the Chevy Corvette ZR1.)

Good for both

This is an excellent move for Toyota, and for Tesla. Tesla is an eco-friendly manufacturer, and they’re about to unveil the Tesla Model S, a family sedan retailing around $ 60,000. Toyota comes into the picture by putting Tesla up in the NUMMI manufacturing complex, which recently closed. It seems a Tesla of any sort creates sparks wherever it goes.

Sources

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