Tesla and Toyota could be entering into a partnership very soon, resulting in the joint development of a new low-cost electric SUV.
Tesla and Toyota could be entering into a new partnership very soon. Reports suggest that the partnership between the two brands will result in the joint development of an all-new small electric SUV.
According to reports, both companies have been reviewing the partnership since last year, which is now said to be in the final stages. Once official, Toyota will provide the vehicle platform to Tesla, which in turn, will on-board some of the electronic control platforms and software technologies.
The new compact electric SUV will be launched by Tesla. It will be a low cost offering, based on Toyota’s EV platform. The introduction of the low-cost electric SUV is also expected to help Tesla improve its sales in the Japanese market significantly.
In return, Toyota will be able to use Tesla’s technology, such as the vehicle’s integrated electronic control platform and operating system. This will allow Toyota to significantly reduce the time and resources spent on developing the technologies themselves.
This isn’t the first time that Tesla and Toyota have partnered. The companies first came together in 2010, to work on an electric version of the Toyota RAV4 SUV. However, due to various reasons, this partnership was called off. Toyota even sold off all the Tesla shares it had bought back in 2017.
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