Toyota and Tesla
The world’s largest automaker, Toyota Motor Corporation, recently purchased a $50 million stake in Tesla Motors. The automotive companies continue to invest in electronic and environmentally friendly features and will team with Tesla Motors who are the only automaker to build and sell highway capable EV vehicles.
Toyota is not the only player making purchases, the counterpart in their business deal Tesla bought a closed Toyota joint-venture plant in California with the intention of building Model S among other vehicles.
Toyota has been under recent pressure because of competitors Nissan and General Motors investments in the United States electronic car segments.
Recent U.S. market regulations have influenced automotive companies to reduce greenhouse gas emissions and increase fuel efficiency. Toyota, whose cars are sold at Waukegan used car dealers, is responding responsibly to these regulations and thus far have gone with the grain, which has helped assuage the negative image following their massive recalls.
Both parties will likely benefit from these deals, Toyota will dodge political turmoil by not shutting down the Nummi plant which would result in the termination of hundreds of jobs. Instead Toyota will be offering an electric vehicle with a low investment cost.
Also in on the action is Daimler AG, the world’s second largest luxury vehicle producer who invested in Tesla about a year ago. Their $50 million investment will ensure a supply of battery packs for a fleet of electronic Smart minicars. Although their intial investment was reduced by $2.5 million the partnership still continues.
The revival of the Nummi plant will create roughly 1,000 jobs according to California Governor Arnold Schwarzenegger. Nummi has been out of commission since April and now close to 90 percent of former workers have been rehired. In addition, they plan on hiring fifty new employers each month.
Before the plant closed there were close to 5,000 workers, all which were represented by the United Auto Workers union.
President Barack Obama has pushed for an increase in investment in electronic car technology and has the intention of getting 1 million plug-in hybrids and electric cars on U.S. roads by 2015.
Toyotas sold at your local used cars Libertyville location will soon begin to look a little more green then in the past.