Tesla Signed $100 Million Supply Deal With Toyota for Electric RAV4

Electric Car News | admin | July 21, 2011 at 9:36 am

Tesla Motors has reached an agreement with Toyota Motor Corp. to supply powertrain equipment for an all-electric RAV4 SUV worth about $100 million.

Tesla will supply battery, charging system, motor and gearbox for the electric RAV4. The supply agreement for the all-electric RAV4 runs from 2012 through 2014, the Palo Alto company reported Wednesday in a government filing.

Tesla will also provide certain services related to the company’s battery and powertrain technology.

Toyota took a $50 million stake in Tesla last year and signed an agreement to use Tesla’s electric power train in the electric RAV4, but the two automakers had not previously disclosed the agreement’s financial terms.

The Toyota RAV4 EV, which debuted at last year’s Los Angeles Auto Show, is expected to get 100 miles of range in real-world driving.