• Jun 9th 2010 at 5:01PM
  • 12
Like the fantastical Lexus QS you see above? (FYI, it's actually a Tesla Model S with Lexus badging). Any real-world car that blends work from both Tesla Motors and Toyota is unlikely, even though the two companies will be working together to build electric cars at NUMMI. In an amended IPO statement, Tesla revealed the following:
In May 2010, Tesla and Toyota Motor Corporation, or Toyota, announced their intention to cooperate on the development of electric vehicles, and for Tesla to receive Toyota's support with sourcing parts and production and engineering expertise for the Model S. However, we have not entered into any agreements with Toyota for any such arrangements, including any purchase orders, and we may never do so.
Not surprising, just a clarifying remark, and it should stop any rumors that the two companies are doing anything more than sharing manufacturing space and strategies. With this latest bit of cold water and the continuing, um, interesting news about Tesla CEO Elon Musk's financial situation, who's going to still be interested when TSLA finally hits the Nasdaq?

[Source: New York Times | Speculative rendering by reader Joona Kallio]

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    • 1 Second Ago
      • 8 Months Ago
      Too many stories about what Toyota can't or won't do, but it's probably better to ignore most statements unless they get the point for instance of putting a price on a vehicle and stating a date that it becomes available, then you can point to them and hold them to it to a certain extent. As for saying we will or won't do this with this or that company, who gives a toss, they're free to change their minds at any time anyway.
      • 8 Months Ago
      Yes, Tesla benefits in ways more valuable than Toyota design engineering. The manufacturing and parts supply expertise of Toyota is a MAJOR feather for Tesla. Were they to attempt to design a car collectively it would likely end up like the infamous Yellow River Concerto - sucking bad.
      • 8 Months Ago
      That render is an abomination and I hope to NOT see it EVER again!
      • 8 Months Ago
      Cold water? Stop rumors of sharing more than space and strategy? Who will be interested in buying TSLA? What the heck is Sebastian talking about?

      None of Sebastian's conclusions are supported by the quote supplied, or the IPO changes regarding Toyota. I don't believe Sebastian understands how to read IPO papers.

      All they mean when they say "[Tesla] have not entered into any agreements with Toyota for any such arrangements, including any purchase orders, and we may never do so" is that IPO share buyers can't sue Tesla for their money back if Tesla and Toyota never do business. Absolutely nothing can be read into this as to what agreements may or may not actually be made.

      This is a CYA clause and nothing more. It describes risk, not probability or intent. This is standard boilerplate legal language that isn't going to stop a single investor who is actually qualified to put money into buying IPO shares.

      All it says is "IPO investors can't sue, if Toyota and Tesla don't do a deal". That's it. Reading anything more into it than that is a failure in knowing how to read IPO papers.
      • 8 Months Ago
      Something smells here, would bet this has something to do with ZEV credits.
      • 8 Months Ago
      yeah this is probably just a legal statement. toyota wouldn't put on a 50m$ condom unless some action will take place : )
      • 8 Months Ago
      I'm not sure what Tesla would get out of such a partnership anyway. Tesla needs a steady flow of cash till they can get the Model S out in quantity, sure, but giving away all your best technology isn't the right move. The Model S could be a big seller for the upscale vehicles crowd. It is one fine car with great specs and anyone driving one will be the envy of everyone on the road. Don't dilute your brand, Tesla. Just suck up to VCs till you can get the Model S production going.
        • 8 Months Ago
        Tesla would get access to Toyota's vast parts bin and access to their purchasing might. Even an EV needs wheels, tires, coolant, electronics, bulbs etc. Not to mention batteries. Toyota can also help with logistics, world wide distribution and production management. Tesla can't hand build cars forever.
        • 8 Months Ago
        That's the main reason why Tesla chose Toyota. I think they hitched with Daimler for the same reason, but I think Toyota has an even better parts bin.
      • 8 Months Ago
      Even rebadged the Model S still looks very nice.
      • 8 Months Ago
      I wasn't aware of any rumors.

      I guess the best way to start rumors is to deny them.
      • 8 Months Ago
      HSD with a few telsa batteries and telsa motor on the other axle would be pretty awesome!
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