Elon Musk Predicts Future Deal with Toyota

At the end of July Tesla announced a major partnership with Panasonic to build a Gigafactory to produce cells, modules and packs for Tesla cars and for the stationary energy storage market. The factory will be located in Reno, Nevada and it is expected to cost around $4 – 5 billion.

As the market for electric cars continues to grow, so will the competition for Tesla. Audi isn’t the only one already making major progress in the high-end segment which Tesla owns now.

So Tesla continues to invest in expanding the factory, increasing their IP on batteries but also to form strategic partnerships with other automakers.

Elon Musk, CEO of Tesla has now come out and said he would not be surprised if Tesla and Toyota would work together in the future.

“If you look out maybe two or three years from now, I would not be surprised if there was a significant deal with Toyota and Tesla.”

The companies have already worked together for the past two years as Tesla supplied batteries for an electric RAV4 model. That partnership however will end this year as this specific model will not continue to be sold. Not a surprise really since the sales numbers were disappointing coming in at a total of 2,000 sold since launch.

 

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