Toyota has announced that it has reached an agreement to work together with Californian battery-powered sports car manufacturer Tesla. The Japanese company is to invest 50 million dollars in Tesla, giving it a 2.5% share in the equity. Tesla will obtain part of a plant recently closed by Toyota in California. One of the benefits to the industry may be in greater standardisation of the still new battery power domain, and this deal could also lead to around 1,000 new jobs. In terms of technology, Tesla has opted for the weight-effective Li-on approach, against Toyota’s current development of the nickel-metal variety. Reporting on this move, Datamonitor also points out that this strategic partnership will undoubtedly help Toyota to regain some of the ground lost due to its model faults and recalls, along with its plant closure, in the USA.
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