May 21, 2010

Toyota Partners with Telsa Motors

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Telsa Motors, an electric car company, is partnering with Toyota to re-open the Nummi car plant in California.

* Toyota has agreed to purchase $50 million of Tesla’s common stock issued in a private placement to close immediately subsequent to the closing of Tesla’s currently planned initial public offering
* Toyota has produced approximately 2.5 million hybrids.
* In late 2009, Toyota started lease of Prius Plug-in Hybrids, which can be charged using an external power source such as a household electric outlet. The company also plans to introduce EVs into the market by 2012.
* Tesla has delivered more than 1000 Roadsters to customers in North America, Europe and Asia

The Nummi factory is capable of producing half a million vehicles per year or approximately 1 percent of total worldwide car production.
* Tesla plan to produce their Model S at Nummi. It is expected to be the first pure electric premium sedan and is designed from the ground up to take full advantage of the electric vehicle architecture. The sedan, which Tesla unveiled in March 2009, has an anticipated base price of $49,900, including a federal tax credit, and is intended to deliver the foremost design and technology in the automotive world. With an optional extended-range battery pack, the Model S will travel over 300 miles per charge

Other Elon Musk - Founder of Telsa Motors - News
Justine Musk has requested 10 percent of Elon Musk's stake in Tesla Motors as part of the divorce. Elon Musks current net worth is estimated at $328 million.

Elon Musk also founded and owns part of the rocket company Spacex. There will be an important first launch of the Falcon 9 rocket soon.

A successful Tesla IPO and a good launch for the Falcon 9 would likely multiply valuations of Tesla Motors and Spacex. In a few months Elon Musk would likely be a billionaire (in spite of the money given up in the divorce).

There is also interesting potential for the 2015-2020 timeframe if Spacex has locked in more than the $1.6 billion in NASA launch contracts it can get now with some good launches. NASA is likely to not have a Space Shuttle replacement up to 2020 and would be depending upon Spacex and a few other new space companies. If Tesla Motors is able to successfully sell electric cars near to the 500,000 car capacity at Nummi then Elon would likely be looking at 10+ billions in net worth in the 2020 timeframe and be a major player in two major industries of the future (space launch and electric cars).

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