Tesla, Toyota Agreement Contingent on EV Maker Going Public by Year End

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Green Car Advisor - May 27, 2010

Tes­la Motors filed reg­u­la­to­ry papers say­ing it has agreed to pay Toy­ota $42 mil­lion from its upcom­ing IPO as the elec­tric vehi­cle mak­er goes pub­lic. This will pay for Toyota’s for­mer NUMMI plant in Fre­mont, CA, and 207 acres of prop­er­ty. The fil­ing says Toy­ota agrees to invest $50 mil­lion in Tes­la con­tin­gent upon the fil­ing hap­pen­ing by year’s end.