Ford Inside News banner

1 - 9 of 9 Posts

·
The Spaminator
Joined
·
5,791 Posts
Discussion Starter · #1 ·

Tesla acquires NUMMI plant to build EV sedan with Toyota​

State Governors aren’t usually the source of breaking automobile news, but California Governor Arnold Schwarzenegger just let a major cat out of the bag. In a speech made earlier on Thursday, Schwarzenegger announced that Toyota is partnering with California’s Tesla Motors to produce the company’s Model S sedan – to be assembled at the former Toyota-General Motors NUMMI joint venture assembly plant.

Tesla has apparently canned plans to build its Model S in Downey, California, which has irked local officials.

“We’re shocked, appalled and disgusted,” said Downey Councilman Mario Guerra in an interview with the San Jose Mercury News. “We have been dealing in good faith with Tesla and feel stabbed in the back.”

Tesla CEO Elon Musk told Downey officials of the plan just hours before Schwarzenegger made his announcement this evening in Fremont.

Plant gets new life
Tesla purchased the NUMMI facility for an undisclosed amount and the company says it will look to hire about 1,000 workers to assemble the Model S. Curiously, NUMMI will continue to control the parking lot and an adjacent parcel, although it won’t have any say in the plant.

Previously, the NUMMI plant was operated as a joint venture between Toyota and GM until the Detroit automaker abruptly pulled out its stake last year. The last Toyota to be built at the plant rolled off the line last month.

Musk, Toyoda work out deal
Musk and Toyota chief Akio Toyoda said that they worked together on the deal, which will see a $50 million investment in Tesla from the Japanese automaker, according to Schwarzenegger.

“We look forward to learning and benefiting from Toyota’s legendary engineering, manufacturing, and production expertise,” Musk told the Los Angeles Times.

It’s unclear exactly what Toyota will get out of the deal – although a Toyota-badged version of the Model S seems possible.


http://www.leftlanenews.com/toyota-partners-with-tesla-for-upcoming-ev.html
 

·
Mercury C557
Joined
·
22,734 Posts
Re: Tesla makes pack with the Devil...eer...Toyota

for Tesla's sake, I hope they get TM completely out of there ASAP
they sure don't need to pick up any bad habits, like
"phloor mats"
sticky accelerator pedals
sludge
self-destructing body parts
electronics/software that was never properly tested
or
the habit of lying and covering up
 

·
Registered
Joined
·
2,900 Posts
Re: Tesla makes pack with the Devil...eer...Toyota

Toyota will give them volume and access to a dealer network.
 

·
Mercury C557
Joined
·
22,734 Posts
Re: Tesla makes pack with the Devil...eer...Toyota

Some Views of the Toyota-Tesla Deal - Wheels.Blogs.NYTimes
May 22, 2010, 3:00 am
By JIM MOTAVALLI
Will the Toyota-Tesla collaboration on electric cars, announced on Thursday, be a successful marriage of cultures? Opinion appears split, with one analyst saying that the companies complement each other, and another expecting a rapid divorce.

James Bell, an executive market analyst at Kelley Blue Book, is skeptical. “I think it opens up more questions than it answers,” he said. “It’s a real confirmation for Tesla, its vision and what it’s trying to do, but it also indicates that Toyota’s electric car technology could be lagging behind Nissan’s. It’s a partnership that could be ripe for unraveling. Toyota is sort of slow and methodical, and how well will that integrate with Tesla, which shoots from the hip as it makes deals and partnerships to build up its business?”

But James Kliesch, a senior engineer at the Union of Concerned Scientists, was far more sanguine. “Ultimately, this is a good thing,” he said. “Tesla will be able to take advantage of Toyota’s mass production prowess. In order for our nation to meet its climate goals by midcentury, we need to get advanced vehicles such as E.V.’s on the road in quantity and making a difference. The real question is how many will be sold.”

The ink is still drying on the deal, said Ricardo Reyes, a Tesla spokesman, and he said he wanted to clear up a few things about the company’s purchase of the vast Nummi factory in California, formerly a collaboration between General Motors and Toyota. Toyota and Tesla will collaborate on an electric car, he said, but it’s not clear when that will be happen, and it won’t necessarily be built at what is now being called the Tesla factory (or even in California).

The Model S, which will be built at the Tesla factory, is likely to take up only a quarter of the available space, Mr. Reyes said. “Nummi had the capacity for 500,000 cars a year,” he said. “We see the Tesla factory as an investment in the future, where we can produce our smaller third-generation car, hopefully in much higher volumes than the Model S.”

What propelled the Toyota-Tesla deal? According to Mr. Reyes, in part it was simpatico personalities. Akio Toyoda, the president of the Toyota Motor Corporation, and Elon Musk, the chief executive of Tesla, “have personality traits in common,” he said. “They get along very well.”​
 

·
Registered
Joined
·
5,028 Posts
:Dhahahahaha hahahah hahaha... we will see this in the future: " Tesla recall all cars produced in order to fix pedals and brake and rust and others Toyota quality related issues. "

Haha haha haha haha haha !!!!!:D
 

·
Registered
Joined
·
5,028 Posts
Re: Tesla makes pack with the Devil...eer...Toyota

Good for Toyota, now that the sales volume fall 17% in may, no matter the incentives.
 

·
Mercury C557
Joined
·
22,734 Posts
Re: Tesla makes pack with the Devil...eer...Toyota -- or Do They???????

Tesla Reveals Loose Arrangement With Toyota for New Electric Car - N.Y.Times
By COLIN SULLIVAN of ClimateWire
Published: June 8, 2010
SAN FRANCISCO -- Upstart carmaker Tesla Motors Inc. has offered a blunt, real-world assessment of a recent deal it made with Toyota Motor Corp. In a recent filing with the Securities and Exchange Commission, Tesla said the two companies may never get to the point where they jointly develop electric vehicles.

Tesla gave the SEC details of its plans for an initial public offering sometime this year. It said Tesla and Toyota have agreed to a kind of loose engagement, with an aim to work together only if the IPO comes off as planned.

Late last month, the companies -- to much fanfare in California -- went public with plans to build an auto plant in Fremont, Calif., with Toyota committing its expertise to help San Carlos-based Tesla with electric drive chain technology and building its Model S electric sedan.

But the deal is less than a firm commitment and effectively represents "an intention to cooperate" on car development, with Toyota positioned to support on parts, production and engineering expertise for the Model S, Tesla officials told the SEC in an amended IPO statement sent to the agency in late May.

"We have not entered into any agreements with Toyota for any such arrangements, including any purchase orders, and we may never do so," the filing states, referencing plans to jointly develop electric cars. "As a result, we anticipate that we will generate limited revenue from selling electric vehicles in 2012 until the launch of our Model S."

On its website, Tesla calls Model S "the world's first mass-produced electric vehicle" that can carry five adults and two children. The company says the car will have a range of up to 300 miles and can be charged in 45 minutes "from any outlet" for about $4, "a bargain even when gasoline is $1 a gallon."

A heavily promoted tentative agreement

The SEC admission is a far cry from the press reports that followed the Toyota-Tesla announcement, which was heralded at the time by California Gov. Arnold Schwarzenegger (R) as a breakthrough for electric car manufacturing in the Golden state during a news conference in Palo Alto. Also in attendance at the Schwarzenegger press briefing on the deal was the CEO of Toyota, Akio Toyoda, who crossed the Pacific Ocean to attend (Greenwire, May 21).

In the SEC statement, Tesla said Toyota had agreed to buy $50 million in Tesla stock, as promoted by Schwarzenegger during the press conference. But that agreement is contingent on the company's going public by the end of 2010. If the public offering collapses, in other words, Toyota has the right to walk away.

Also on the chopping block if the IPO never materializes is a $42 million deal to acquire an auto manufacturing plant in Fremont that was once owned by General Motors. Tesla's SEC statement said the purchase, from New United Motor Manufacturing Inc., or NUMMI, which is a joint venture between Toyota and Motors Liquidation Co., would close "a few months following the completion of this offering."

"We intend to use this facility for the production of our planned Model S and future vehicles," explained Tesla officials, adding that they are still "in an early stage of planning for this facility."

The Model S is meant to be a mainstream moneymaker for Tesla, which so far has struggled to post a profit with sales of its high-performance, $109,000 Roadster. The Model S will go for just under $50,000 and is expected on the road in 2012.

But if that schedule doesn't hold, Tesla officials in the IPO statement appear to acknowledge they will continue to crawl rather than run toward profitability. The statement also paints a fairly tentative picture for the Model S, saying a number of events could hold it back.

"We have no operating history with respect to the Model S electric vehicle and have only recently begun the component procurement process for the Model S," Tesla said in the statement. "If we do not successfully address these risks, our business, prospects, operating results and financial condition will be materially and adversely harmed."

A 'number of reasons' for potential delays

The statement continues: "The launch of our Model S could be delayed for a number of reasons, and any such delays may be significant and would extend the period in which we would generate limited revenues from sales of our electric vehicles. The potential decrease in automotive sales revenues for the periods prior to the launch of the Model S may be significant."

In January, Tesla received a $465 million loan from the U.S. Department of Energy to help the company produce the Model S and build a manufacturing center to assemble the cars. It was the second company to draw from a $25 billion loan program passed by Congress to help automakers meet tougher fuel economy and emissions standards. Elon Musk, Tesla's CEO, said the money would be used to "further accelerate" the production of electric cars.

In its submission to the SEC, Musk's company detailed its sales history thus far. In the year ended Dec. 31, 2008, Tesla made $14.7 million in revenue, following that performance with $111.9 million in revenue for 2009. For the first three months of 2010, revenues posted at $20.8 million.

Tesla added that it had incurred $290 million in losses through March 31, 2010, since its inception in 2003. For the first three months of this year, losses are $29.5 million.

"Even if we are able to successfully develop the Model S, there can be no assurance that it will be commercially successful," the filing states. "If we are to ever achieve profitability it will be dependent upon the successful development and successful commercial introduction and acceptance of automobiles such as the Model S, which may not occur."

A Tesla spokeswoman refused to comment further on the SEC document, saying federal law precludes her from commenting on the IPO.​
 
1 - 9 of 9 Posts
Top