peristaltor | May. 21st, 2010

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May. 21st, 2010

This is freakin' sweet news:

In a stunning deal, Tesla Motors announced late Thursday that it is teaming up with Toyota to build its all-electric Model S sedan at the recently shuttered NUMMI plant in Fremont, creating more than 1,000 new jobs.

The pact, put together in utter secrecy, immediately injects new life into an auto plant once left for dead, is a jolt of positive news for beleaguered Toyota and elevates Silicon Valley's role at the heart of the emerging electric car industry.

Under the agreement, Toyota, the world's largest automaker, will invest $50 million in Tesla, which will buy the NUMMI plant for an undisclosed sum. The joint venture was unveiled by Akio Toyoda, Toyota's CEO, who flew in from Japan for the announcement. . . .

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Tesla To Build Cars at Toyota's NUMMI Plant

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