Toyota Motor Corporation (NYSE:TM) and Tesla Motors Inc (NASDAQ:TSLA) have signed an agreement to develop an electric version of the RAV4. Toyota and Tesla are aiming to market the electric vehicle in the U.S. by 2012. The prototypes would be a Toyota RAV4 with a Tesla electric powertrain. The first prototype has been built and is going through testing. [Tesla PR]

NVIDIA has recently made a deal with Tesla and BMW to power the navigation, infotainment, and instrument-cluster systems. In the Tesla Model S, the Tegra-based system has a 17-inch touchscreen center console with 3D graphics and live-traffic updates. The Model S also has a smaller 12.3-inch display for the instrument cluster. The BMW will be using the Tegra chip for a 1280×600 display in the upcoming 7-Series, 5-Series, 3-Series, Mini Cooper, and X-Series range. Below is the full press release:

The Tesla Motors Inc (NASDAQ:TSLA) Model S car has been set with a $57,000 price tag. The small price tag is largely due to smaller Lithium ion batteries which is commonly used in laptops. The batteries are swappable as a single unit. These batteries are cheaper to use than the monolithic packs that is used in the Nissan Leaf and the Chevy Volt. [Engadget]

Tesla Motors Inc (NASDAQ:TSLA) is expecting to make about $60 million in revenue for building the electric components for the Toyota RAV4 SUV. Toyota bought $50 million worth of equity in Tesla shortly after the California based electric vehicle company went public in June. Tesla will be building the batteries, gearbox, motor, and electric control system. Tesla also received a $30 million investment from Panasonic on November 2nd. Tesla sells the Roadster sports car for $109,000 and is planning to start selling a luxury sedan called the Model S in 2012. [WSJ]

Panasonic has invested $30 million into Tesla Motors and will receive a 2% stake in the electric car company. This investment was sent to Tesla about a week after the grand opening of Tesla’s factory. Tesla has been using Panasonic cells for their Tesla Roadster battery packs.

Tesla Motors Inc (NASDAQ:TSLA) and Toyota Motor Corporation (NYSE:TM) have officially entered a $60 million deal with each other. Even though Toyota announced plans to provide a Tesla powertrain to the electric version of the RAV4, it is in writing now. Tesla filed a form with the U.S. SEC to disclose their $60 million agreement with Toyota. Tesla expects there to be RAV4 with Tesla powertrain prototypes out later this year. A commercial model should be ready by 2012. Below is part of the SEC statement:

Late last month, the New York Times wrote an article about how Elon Musk is broke. “About four months ago, I ran out of cash,” said Elon Musk, co-founder of PayPal and the head of Tesla Motors.

This past week Tesla Motors has filed a report with the U.S. SEC that they have made $13.8 million by selling zero emission vehicle credits, which is equal to 368 cars to Honda over the past 2 years. Honda is also contracted for an additional 287 credits.