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Toyota investing $50m in electric car firm Tesla Motors

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posted on May, 21 2010 @ 11:23 AM
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Toyota investing $50m in electric car firm Tesla Motors


news.bbc.co.uk

Toyota is to invest $50m (£35m) in US electric car company Tesla Motors, as the two firms announced a joint partnership to build electric vehicles.

The deal will give the Japanese giant a stake of about 2.5% in Tesla, which will build its new saloon model at a Toyota factory in San Francisco.

Analysts said Tesla, which was only formed in 2003, will benefit from Toyota's mass production skills.

In turn, Toyota will be able to access Tesla's electric battery expertise.
(visit the link for the full news article)


Related News Links:
www.ft.com
www.businesstimes.com.sg




posted on May, 21 2010 @ 11:23 AM
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The fifty million may be barely a drop in the bucket to Toyota, but the point is they are making the investment because it will benefit them. In adation the cars will be made in a Toyota factory. Com binding all of that together I think we may be seeing more electric cars on the road in the next few years. Of coarse that does not mean that any one is going to buy them.

news.bbc.co.uk
(visit the link for the full news article)



posted on May, 21 2010 @ 11:29 AM
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reply to post by RedGolem
 


here's the other side of this announcement...



The City of Downey Says Tesla Motors Goes for the Cash, Moves Jobs to Vacant Toyota Plant


DOWNEY, Calif., May 20, 2010 (GLOBE NEWSWIRE) -- Although the Downey City Council had planned to approve a Lease Amendment with IRG today to bring Tesla Motors to the City of Downey, the City Council instead will hold a meeting to inform the region that despite months of good faith negotiating, and doing everything within their power to bring the manufacturer to Downey, the jobs promised by Tesla will instead go to a facility in northern California.

Early this afternoon, Councilman Mario Guerra received media calls, and later confirmed through a call by the City to Tesla's CEO Elon Musk, that the 1,200 jobs promised to Downey will be locating to northern California. "Today the Southeast Los Angeles County region was betrayed by Tesla," said Councilmember Mario Guerra. "Mr. Musk gave me his word that Tesla would be coming to Downey. Today the residents of Downey are learning the same lesson several other cities have learned when dealing with Tesla and Mr. Musk: They cannot be trusted to honor their word. The fact is that Tesla has been extremely disingenuous in their dealing with Downey and I now have new appreciation as to why America is fed up with many large corporations. .This last minute betrayal is even more shocking because the City of Downey was hours away from signing a the lease with Tesla that would have been an economic boon for the City."


Isn't this the same company (Tesla), who got big bucks from the government recently?



posted on May, 21 2010 @ 11:36 AM
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reply to post by JacKatMtn
 


Thanks for posting

cool avatar also.
I do not know if they got money from the government also. It does suck that they betray the city that they agreed to open the plant in. It does seem obvious that they went for the money Toyota offered and thus went to where there plant is. I guess you could say you just got to follow the money trail.



posted on May, 21 2010 @ 11:40 AM
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reply to post by RedGolem
 


Thanks for the compliment on the avvy, but all credit goes to avvy creator extraordinaire, member and friend, kinglizard

 


on topic.. yes it was Tesla who rec'd quite the grant last year...


Finally the US Government realizes Tesla’s Worth by Granting $465 Million

...The biggest grabber is Tesla Motors which has managed a $465 million grant. The first part of the loan will be dedicated to setting up a manufacturing facility for the Tesla Model S Sedan. The second electric car from the company is an example of the reduction of cost for such cars as people would remember that the Roadster demanded a scary price, whereas the Model S is affordable at $50,000...




edit on 5/21/2010 by JacKatMtn because: speeling




posted on May, 21 2010 @ 11:48 AM
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reply to post by JacKatMtn
 


Thanks for posting the reference so fast.
I guess that's why you are an expert subject matter.

A half billion dollar grant is a lot. I would have liked to have seen the production facility go to the community that needs it more. But oh well.



posted on May, 21 2010 @ 11:52 AM
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reply to post by RedGolem
 


From the looks of the prices and looks of their vehicles, it doesn't appear at first glance to be a vehicle for the masses, looks more like high priced status symbols to me.

I would think the first major effort would be for affordable vanilla looking vehicles that the masses could afford.

Isn't the goal to have these eventually take over from the combustion engine cars?

This Tesla deal, grant and now association with Toyota, looks more like the same old same old to me.

edit on 5/21/2010 by JacKatMtn because: clarity



posted on May, 21 2010 @ 12:00 PM
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reply to post by JacKatMtn
 


Jack
that is a good point. I do think the cars are priced out of the range for most people. But that will depend on how low they can bring the production costs down when the new plant opens also. And again the fifty million Toyota invested is a drop in the bucket to a company that size.



posted on May, 21 2010 @ 01:03 PM
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Here's another case where money is being spend in the wrong places.

Electric cars are ok.. but the batteries pollute just as anything else out there.

Here's a car we should be investing in:

www.greenoptimistic.com...


That's right a car that Runs Exclusively on Water.



posted on May, 21 2010 @ 02:52 PM
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Sounds like good news and thank you guys for all the info. Pardon my digression here, but I remember a short time ago 3 Tesla Motors Executives were killed in a plane crash and of course when I first heard that I though, "great, another revolutionary advancement squashed by the industries it threatens." I wonder what the effects were after this incident. I will dig a little to check it out.
Nevertheless, I feel the Toyota move is a good one and I think the prices will come down eventually, hopefully before 2012 when it won't matter anymore! haha
Thanks for the post, Peace

THREE TESLA MOTOR EXECUTIVES KILLED IN PLANE CRASH
www.foxbusiness.com...

[edit on 21-5-2010 by speculativeoptimist]



posted on May, 21 2010 @ 02:57 PM
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Thanks to all who is posting.

I would like to see more be put into water power also. Still weather it goes that way or not I am glad to see some other technology come into place that is not funded by big oil.



posted on May, 21 2010 @ 05:24 PM
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reply to post by speculativeoptimist
 


Good post, I didn't realize that they lost 3 execs in a plane crash..

The headline doesn't jibe with the article though, it didn't mention who the execs were, but here is a link that names the victims..


Tesla plane-crash victims identified

...Musk said the victims were plane owner and pilot Doug Bourn, 56, a senior electrical engineer from Santa Clara; Brian Finn, a 42-year-old senior interactive electronics manager from East Palo Alto; and electrical engineer Andrew Ingram, who lived in Palo Alto and turned 31 on Monday...



Sounds like quite a hit on a company who was into producing electrically powered vehicles.. Is there more to this story?



posted on May, 21 2010 @ 06:08 PM
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reply to post by JacKatMtn
 


Thank you JackatMtn, I am so glad to finally be on the + side of ATS points!
It appears the 3 who died(condolences to their loved ones) were major figures(although NOT execs) in the innovative Tesla Motors designs and marketing. The accident report said that the weather was rough and visibility was down to 1/8 of a mile, forcing the pilot to depend solely on instrumentation. They hit some powerlines, which I guess is one of the more risky aspects for Cessna or small planes.
"The investigation into what caused the crash is expected to be aided by "very clear and quite powerful" audio recordings of the plane going down," said East Palo Alto Mayor Ronald Davis. That sounds intriguing, as far as determine if there was any foul play, but I can't find the results of that investigation anywhere. Perhaps it is still under investigation so no info has been released.

Identity of Tesla Employees Killed In Plane Crash
articles.latimes.com...


The incident happened Feb 17 2010 and in my search for relative Tesla activity, I found that as of late Jan 10, they had announced an agreement with the SEC and were going public, making the Co available for trading and investments.

Another interesting kernal of info regarding Tesla Motors( you beat me to it) is the 465 million dollar loan from US Dept of Energy, back in June 09. I would assume this funding allowed them to truly be inventive and put something wonderful together

Tesla Receives Funding
www.inc.com...

In an attempt to determine if anything fishy went on here, I will have to further examine the situation to see if/what anything stood to be gained from this incident. I am not saying something intentional happened here, but I would like to know with more certainty, eliminating any chance of malevolence.

Here is an interesting breakdown of how the new Tesla Motor technology works.
auto.howstuffworks.com...

Thanks again JAM, Peace


[edit on 21-5-2010 by speculativeoptimist]



posted on May, 21 2010 @ 09:05 PM
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Already some question as to the direction of this partnership:


Will Tesla and Toyota create as many jobs as hoped?

Although the deal to revive the NUMMI plant has raised hopes that it will result in thousands of green-tech jobs, questions remain about how many people ultimately will be employed there and how long it might take for those jobs to materialize.
Tesla CEO Elon Musk said the partnership between his Palo Alto company and Toyota, the Japanese auto giant, eventually could result in 10,000 new jobs, with half of those at the New United Motor Manufacturing, Inc. facility in Fremont, which closed in April after GM and Toyota abandoned it.
But other car companies are lining up to enter the electric-car market, some with vehicles expected to sell at less than half the price of the $50,000 Model S that Tesla intends to make at the plant. And while Tesla might attract more buyers by marketing a cheaper car under the Toyota name, the two companies so far have been vague about their future plans. That raises questions among some analysts about how many cars the new venture can sell and how many workers it ultimately will need to build them.



have to keep an eye out for this company..



posted on May, 22 2010 @ 06:41 AM
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More news on the company.. IPO in the near future? troubles with the UAW, already?


Tesla beckons to the true believers

SAN FRANCISCO (MarketWatch) -- Tesla Motors, the Silicon Valley maker of electric cars whose hot-rod Roadster has tickled the fancy of every well-heeled geek on the road, plans to go public. Someday.

It's certainly making all the right prelaunch moves.

Late Thursday, Tesla announced it's teaming up with industry heavyweight Toyota Motor Corp. (TM 75.59, +1.59, +2.15%) The deal includes a helpful $50 million cash injection from Toyota and gives Tesla the automotive clout critics have long claimed it lacks. Read more about Tesla teaming up with Toyota.



posted on May, 22 2010 @ 08:49 AM
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reply to post by JacKatMtn
 


The source article said nothing about a contract. That does not mean there will not be one. I really suspect that will not be something they can avoid.



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