How It All Started for Toyota- Tesla
It all started four years back with a simple ride of Tesla Motors Chairman Elon Musk's Roadster sports car when his guest Akio Toyoda, the president of the largest auto manufacturer took it out for a drive.
The two immediately decided to work out a deal and within weeks the car giant Toyota agreed to purchase a stake of $50 million of Tesla and also sold the closed factory in California factory to Tesla for only $42 million. Both companies agreed to retrofit the RAV4 utility vehicle of Toyota and also thought of expanding the teamwork to come up with an electric Lexus RX SUV reported a person who is familiar with matters in this regard.
As for Tesla, this deal meant money along with its initial factory which it got at a bargain price. It also gained the reliability factor which comes from the fact that it was working with the leader of the industry side by side.
While for Toyota, the new association brought an opportunity to revive a car manufacturer who was struggling from a sudden unintentional acceleration recall emergency. The investment of Toyota now has $700 million stake in Tesla which is quite profitable.
However trouble was following the partnership and it did not take a very long time for conflicts to raise their ugly heads. According to some previous employees at the companies it all started when engineers of the two companies could not agree on a familiar car component known as the parking pawl.
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