Toyota and Tesla Make Agreement To Develop Electric Version Of RAV4

Posted Jul 24, 2011

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]