Tesla, Toyota ink deal to develop EV version of RAV4

Jul 19, 2010

Tesla Motors Inc. and Toyota Motor Corp. signed an agreement in mid-July to initiate the development of an electric version of the RAV4.

With an aim to market the EV in the United States in 2012, prototypes will be made combining the Toyota RAV4 model with a Tesla electric powertrain.

Tesla plans to produce and deliver a fleet of prototypes to Toyota for evaluation within this year.

The first prototype already has been built and is undergoing testing.

In May, Tesla and Toyota announced their intent to cooperate on the development of electric vehicles, parts and production system and engineering support.

Tesla seeks to learn and benefit from Toyota’s engineering, manufacturing and production expertise, while Toyota aims to learn from Tesla’s EV technology.