Toyota/Tesla RAV4 EV Will Cost Toyota $60 Million

Toyota/Tesla RAV4 EV Will Cost Toyota $60 Million

Toyota‘s initial investment of $50 million in its partnership with Tesla will also cost the company another $60 million in development costs needed to bring its RAV4 EV to market.

The $60 million is, according to SEC filings, for services rendered by Tesla, and any future components will require additional funds. Tesla took over Toyota’s Fremont, California facility earlier in the year, and is adapting the technology used on their Tesla Roadster to work in the RAV4.

[Source: Bloomberg]