Car Technology

Tesla deal with Toyota is ‘not formal,’ $50m investment dependent on IPO

Tesla Motors seemed to have scored quite the coup earlier this month when it landed a deal with Toyota, but it now looks like things might be a tad more complicated than first suggested. According to Tesla, there is no formal deal with Toyota on electric car development, only an "intention to cooperate," and Toyota's proposed $50 million investment in the company isn't a done deal either. It's apparently dependent on Tesla's IPO happening before December 31st of this year — if that falls apart or gets pushed back, the deal is off. What is officially happening, however, is Tesla's $42 million purchase of a closed Toyota plant in San Francisco that will be used to produce the Model S sedan — which itself is apparently still set to go into production in 2012, and run about $49,900.

Tesla deal with Toyota is 'not formal,' $50m investment dependent on IPO originally appeared on Engadget on Sat, 29 May 2010 04:27:00 EDT. Please see our terms for use of feeds.

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Coulomb begins worldwide EV domination with ChargePoint expansion to Australia and Poland

Look around you. Are you at an electric vehicle charging station? If so, good for you! If not, that's okay, because the things are still mighty rare. California-based Coulomb is helping to change that, expanding its operations with deals that will see its ChargePoint networked charging stations appear in Poland and in Australia. The Warsaw-based station is powered by juice from 365 Energy, while the Sydney one is being run by GoGet, a sort of Aussie Zipcar, if you catch our drift, mate. They join the 600 stations that Coulomb deployed in 2009 and are part of the thousands the company hopes to scatter about in this year. Both forward-reaching press releases are included for your enjoyment after the break, either of which make for great reading while your Tesla hungrily sucks down the electrons.

Continue reading Coulomb begins worldwide EV domination with ChargePoint expansion to Australia and Poland

Coulomb begins worldwide EV domination with ChargePoint expansion to Australia and Poland originally appeared on Engadget on Sat, 29 May 2010 10:00:00 EDT. Please see our terms for use of feeds.