Tesla battery-supply deal to Toyota ends in 2014
Tesla is also preparing to supply components for the electric Mercedes-Benz B-Class, as well as working on its gigafactory project.
Tesla has said that its deal to supply the Toyota RAV4 electric vehicle (EV) with battery packs and motors will conclude this year. In May 2012, Toyota had said it would buy components for 2,600 electric RAV4 EV models over three years. At the time, Tesla's Elon Musk said he expected Toyota would extend the agreement, according to Automotive News. However, when the company reported its quarterly filing with the US regulators last week, it said, "Toyota is expected to end the current RAV4 EV model this year … our production activities under this programme are expected to end in 2014." In the first quarter of 2014, the deal generated USD15.1 million in revenue for Tesla, in which Toyota owns a 2.4% stake.
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