"We anticipate that we will generate limited revenue from selling electric vehicles in 2012 until the launch of our Model S."
Colin Sullivan - NYTIMES
- June 8, 2010
At least the company is forthright. Will they pull through and provide the vehicles we all want to see? --Ed.
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... [Read More]