Toyota and Tesla rumored to enter a partnership to develop an EV platform
Interestingly, this is not the first time the two auto giants are forming an alliance.
Every time carmakers and automotive brands collaborate for a joint project, they end up creating stunning masterpieces. Auto companies merge their strengths to create an incredible end product. And what two auto companies can be better to collaborate than Toyota and Tesla when the goal is utmost excellence.
According to a report by a South Korean newspaper, Chosun Ilbo, the two giants of the auto industry, are in talks of combining efforts and resources to co-develop an electric vehicle platform for small electric SUVs. An official from the Japanese auto industry claimed:
The two companies have been in secret talks since last year. Now the Toyota-Tesla partnership is in the final stages.
Experts believe that if the report stands true and the two companies become allies, the auto industry will witness something sensational. According to experts, to build the vehicle platform, Tesla will contribute its software and electronics expertise, and Toyota will bring its vehicle construction mastery to the table.
The reports further state that when all is said and done, both companies will utilize the end product, i.e., the electric vehicle platform, to build modern compact SUVs of their own.
History of Toyota and Tesla Alliance
Interestingly, this is not the first time the two auto giants are forming an alliance. Toyota and Tesla announced a partnership 11 years ago to develop electric vehicles. Unfortunately, at the time, the deal between the two companies could not work out. In 2017, Toyota sold all of Tesla’s stakes, and the partnership ended.
However, thanks to the close relationship between the two CEOs of the auto companies, Elon Musk and Akio Toyota, the companies are back together for an exciting project.
According to experts, this new partnership will be beneficial for both companies, especially Toyota, as it is behind the curve when it comes to electric vehicle technology. However, Toyota is now coming to the front. The auto company has even committed to launching at least 10 EVs in the first half of this decade (by 2025). Experts state that allying with Tesla, the king of EVs, will only help Toyota further its objective.
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