Friday, May 21, 2010

Thrilled about this historic partnership between Tesla Motors & Toyota

I am excited about this news that was announced yesterday at Tesla in our Palo Alto office about the partnership between Tesla Motors and Toyota Corporation. It was great to see someone like Akio Toyoda (President, Toyota Corporation and grandson of the Toyota founder) at Tesla (and of course our Governor, Arnold Schwarzenegger). As part of the partnership, Tesla will be purchasing the New United Motor Manufacturing Inc (NUMMI, a plant based on joint venture between Toyota and the former General Motors Corp) in Fremont, California which was recently shut down. The decision is a reversal of fortune for the Plant & Fremont to some extent, which only weeks ago lost 4,700 jobs when Toyota halted production of cars and trucks at this plant after GM pulled out of the partnership due to their financial woes. We will primarily be using this plant to build Model S, our new 4-door sedan, and also future cars that could come out of this partnership. The revival of NUMMI will create perhaps 1,000 jobs. Toyota will also be investing $50 million into Tesla which is a huge seal of approval and confidence in our company! Go Tesla!

1 comment:

  1. Well I like this / Steve Andreotti