Toyota-Tesla plan to build electric RAV4 shows partnership is serious

Electric SUV is the first project announced by the companies since Toyota purchased about 3% of Tesla for $50 million this year, a move that had raised eyebrows.

A plan to sell an electric version of Toyota's RAV4 sport utility vehicle two years from now demonstrates that the alliance between Tesla Motors Inc. and the Japanese automaker is more than just window dressing, analysts said.
Tesla and Toyota Motor Corp. said Friday that they were developing the vehicle and that Tesla was working on a fleet of prototypes to begin testing.
The venture is the first project announced by the companies since Toyota purchased 3.2% of Tesla for $50 million this year.

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Toyota, Tesla Said to Prepare RAV4, RX Prototypes

July 12 (Bloomberg) -- Toyota Motor Corp. and its electric- car affiliate Tesla Motors Inc. will use the Japanese automaker’s RAV4 and Lexus RX crossovers as their first jointly developed battery-powered test models, a person familiar with the matter said.

Toyota will receive two prototypes this month, Tesla said July 10 without elaborating. While Toyota also aims to test an electric Corolla, the RAV4 and RX are better suited to the weight of Tesla’s battery pack, said the person, who asked not to be identified because the models haven’t been announced yet.

Toyota’s President Akio Toyoda said last week the partnership with Tesla, maker of the $109,000 electric Roadster, is the first of several the Toyota City, Japan-based company wants to pursue in advanced auto technologies. Toyota, the world’s largest seller of hybrid autos, bought a $50 million stake in Palo Alto, California-based Tesla this month.

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