Tesla signs $100m deal for Toyota RAV4 EV production

Toyota will purchase $100 million worth of components and development services from US-based Tesla Motors, for production of the upcoming Toyota RAV4 EV.

According to a report from Caradvice.com.au, a $60 million contract had previously been signed for technology and development for an electric Toyota SUV, but the deal has been upped to $100 million for the Toyota RAV4 EV production.

Tesla reportedly said it will provide components and associated technology for production from 2012 to 2014. The vehicle will not be available to the public for purchase, but will instead be on offer through lease programs and company car sharing programs, Caradvice.com.au said.

The motors and equipment for the new RAV4 EV will be produced in Fremont, California.

Locally, Toyota Australia is focussing on its energy use, both in its manufacturing operations and in the cars it produces.

In September 2010, the company announced that it would begin manufacturing more fuel-efficient engines for the locally-built Camry and Hybrid Camry sedans from late 2012.

The automotive manufacturer is also in the midst of commissioning a TriGen turbine at its corporate headquarters in Victoria to produce electricity, heating and cooling from gas and reduce its carbon footprint by 25%.  

Under the government’s new carbon tax package, Toyota Australia will have the opportunity to apply for government funding for more investment in energy efficiency equipment for its operations. 

Image from Caradvice.com.au