News that Tesla and Toyota will work together represents a giant step forward in the development of sustainable electric-drive automobiles. In recent years, the two car companies have occupied the opposite ends of the spectrum: the ultra-conservative corporate behemoth that has dominated green car sales for nearly a decade�and the ultra-adventurous start-up with big ambitions.
Toyota will buy $50 million of Tesla�"s common stock, but more importantly it will be purchasing the company�"s sense of daring and adventure. �SWhen we look at Tesla�"s venture business spirit, we recall how Toyota started back in the day,⬝ said Jana Hartline, Toyota�"s environmental communications manager, in an interview with HybridCars.com. �SToyota would like to learn from the challenging spirit, quick decision-making, and flexibility that Tesla has,⬝ Toyota President Akio Toyoda, said in a press release.
What does Tesla get out of the deal? Simple: more legitimacy. It was almost exactly one year ago today that Daimler took an equity stake of 10 percent in Tesla. That was a big vote of confidence for Tesla, especially during a time when it had delivered very few vehicles.