Tesla Motors has become the darling of established
automakers trying to break into the EV market. Daimler purchased an equity
stake of 10% in Tesla last spring to help boost its green vehicle credibility.
The company has now signed an agreement with Toyota to share production
resources, parts and engineering knowledge while developing EVs. Toyota
purchased $50 million worth of Tesla stock as part of the latter company’s
initial public offering. Through this agreement, Tesla will gain capital as
well as credibility among industry experts while Toyota will get greener while
repairing its tarnished reputation.
The nature of the Tesla/Toyota collaboration will look
similar to the aforementioned partnership with Daimler. Tesla and Daimler are
currently working to install Tesla batteries and plug-in charging systems into
1,000 units of an upcoming EV by Daimler. Last week’s announcement by Tesla and
Toyota only revealed the stock purchase along with a preliminary research team
that will oversee the collaboration. An element of this partnership may be the
purchase of Toyota’s NUMMI plant in Fremont, California by Tesla.
The New United Motor Manufacturing Co. (NUMMI) plant was
used by Toyota and General Motors to share production methods since 1984.
Toyota was left with the NUMMI plant as General Motors relinquished its half of
the partnership during the economic downturn in 2008. The last Toyota Corolla
just left the facility in May and Tesla is interested in purchasing the plant
to produce the Model S EV. Tesla Motors is based out of Palo Alto and wants to
have a plant nearby during the next phase of its growth. Tesla CEO Elon Musk
also indicated that the company would like to take advantage of Toyota
machinery and production methods used for years at NUMMI.
Tesla had made some very wise decisions in the past year to
ensure its growth over the next generation. By connecting with Daimler and
Toyota, Tesla designers gain access to some of the world’s best engineering and
production resources. These automobile giants may be invested in Tesla but
their investments are nowhere near enough to control the company. As the Model
S joins the Roadster on the market, Tesla seems poised to leapfrog past their
collaborators as the market shifts toward greener vehicles.
