Remember Toyota- Tesla joint venture ? There was a Rav4 powered by model S..
Copy pasting my post from FB, I wrote few months ago.
Do you know that Toyota owned 1.43% stake in Tesla ? In 2010, Toyota invested around $50 Million in an absolutely brand new Tesla motors company , the time Tesla was not making any cars. Toyota bought shares in Tesla and in return Tesla bought a GM/ Toyota factory , for assembly of their Tesla cars and now known as “ Tesla Freemont Factory “ .
Tesla paid $42 Million for the facility and according to experts back then it was a dirt cheap deal on factory which was capable of making around half a million vehicles a year. Toyota made a 2010 Corolla model S as the last car at this location in April 2010 before closing the factory. Tesla took over the factory from Toyota in May 2010 and extensively upgraded it and it is where the first ever Model S was produced in 2012.
Tesla provided technology and batteries to Toyota and a fully electric RAV4 EV was produced. It was RAV4 powered by Tesla Model S technology. 2500 RAV4 EV were made over there years and the project was discontinued in 2014.
Due to differences between Toyota and Tesla, in June 2016 , the partnership ended and Toyota sold all its 2.3 million stocks in Tesla on a huge profits. The Stock Toyota bought for around $17 +/- sold it for little over $210.
At time of collapse, Toyota said that they are developing their own electric cars unit and will introduce electric cars “soon”. Fast forward today, there is no fully EV from Toyota and the stock they sold for $210 something is trading at $1000. It would have been ideal for Toyota if they stayed with Tesla and today Toyota-Tesla joint venture might have produced something for Toyota.
Toyota’s “SOON” didn’t bring anything as of now and recently they signed a venture with Subaru for developing fully electric vehicles with Toyota badge which is another 3 to 5 years away. Lexus, Toyota's subsidiary is ready with its compact EV CUV with around 400km range and will be for sale soon , although its success depends on its price against the Model 3 and Model Y. Keep in mind VW has already revealed ID3 and will be releasing ID4 with under $40K price point and with option of above 300 mile range depending upon battery size. Toyota started investing in fuel cell vehicles which has its own complications, market reach, limited hydrogen pumps and many other factors comparing fully electric vehicles. When it comes to alternative fuel vehicles like electric vehicles, range do matter in decision making including recharging/ refueling infrastructure and its availability.
In 2010 when Toyota and Tesla signed joint venture, Akio Toyoda, president of Toyota test drove the first generation of Tesla roadster and called it “the wind of the future.” 10 years later, winds has blown everything.
