Under the reported partnership, Toyota and Tesla would jointly develop an electric SUV. Toyota would be responsible for the vehicle’s platform while Tesla would provide the batteries, software and electrical components.
This partnership would be the second for Toyota and Tesla having worked together in 2010 on the EV RAV4. The vehicle saw limited success, and the partnership ended in 2017.
The speculation from the Korean journalist which broke the story, is that Tesla is looking at a partnership as a way to deliver on their promise of a $25,000 SUV. This partnership would leverage Toyota’s production strengths, reduce costs while requiring no compromises. Toyota would benefit from Tesla significant advancement in battery technologies and software. No information was given as to whether Toyota would be able to leverage Tesla significant battery charging station investment.
Although Toyota and Tesla have not made any public comments, a Toyota spokesman did provide the following “non-denial denial” on a Korean news agency: “We would like to refrain from commenting on speculations.”