The Nikkei reports that Toyota Motor Corp. indicated that it plans to develop an electric-car prototype jointly with Tesla Motors Inc. for testing as early as this year.
Upon forming capital and business ties last month [earlier post], Toyota and Tesla said that they will jointly develop electric vehicles and share expertise, such as Tesla’s electric-vehicle technologies and Toyota’s production know-how. As the first step, the two firms aim to develop a prototype based on a current Toyota model using Tesla’s lithium-ion-battery-based system.
Actively utilizing Tesla’s technologies will likely enable Toyota to lower the cost of its future electric vehicles, a Toyota executive said.
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