Toyota and Tesla 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. Their flagship model is the Tesla Roadster, capable of going 0 to 60 in under 4 seconds, no mean feat for any auto. The company had experienced lagging revenues, and also the deal was announced ahead of an Original Public Offering to boost revenue.

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The Toyota Tesla deal

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 $ 109,000, so the auto loan for bad credit you have to get one are hefty.

The flagship Tesla Roadster

The claim to fame for Tesla Motors is the Tesla Roadster, the fastest production electric or hybrid car. The basic model is capable of going from 0 to 60 miles per hour in 3.9 seconds. The Tesla Roadster Sport accomplishes it in 3.7 seconds, and costs $ 20,000 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 need to wonder, the fastest car that comes stock from a major domestic is the Chevy Corvette ZR1.)

A good thing for both

Tesla and Toyota stand to benefit. Tesla is an eco-friendly manufacturer, and they are about to unveil the Tesla Model S, a family sedan retailing around $ 60,000. Part of the Toyota venture is allowing the Model S will be manufactured at the NUMMI manufacturing facility, which was recently closed. It appears a Tesla of any sort creates sparks wherever it goes.

Article resources

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