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Toyota and Tesla Team Up

Toyota and Tesla Team Up

Toyota and Tesla have announced they will be working together to develop electric vehicles, parts and production systems. With the agreement, Toyota will purchase $50 million of Tesla common stock. Mr. Toyoda says in a press release “Decades ago, Toyota was also born as a venture business. By partnering with Tesla, my hope is that all Toyota employees will recall that ‘venture business spirit, and take on the challenges of the future.”