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July 10th, 2010

Via: Bloomberg:

Tesla Motors Inc., an electric carmaker working with Toyota Motor Corp. on battery-powered autos, said it will deliver two rechargeable prototypes to Toyota this month as a first step in their alliance.

Toyota, the world’s largest seller of hybrid autos, in May said it would invest $50 million in Palo Alto, California-based Tesla and jointly develop electric models with the startup. Both prototypes are modified Toyota vehicles, said JB Straubel, Tesla’s chief technology officer.

“Since our announcement in May, Toyota and Tesla engineering teams have made a lot of progress in a short amount of time and it is exciting to start seeing some initial results,” Straubel said today in an e-mail message. Tesla has signed an agreement “to deliver two electric vehicle prototypes to Toyota by the end of the month,” he said.

Energy, Technology | Posted in Economy Top Of Page