China cracks down on illegal mining of rare earth minerals which are essential for Green Technology
May 21, 2010Market Research firm iSuppli makes a "bullish call" for German demand in 2010 and 2011
May 21, 2010Pure play Electric Vehicle producer Tesla which has got a lot of press for its “Roadster” Electric Vehicle has found another partner in Toyota.Tesla has earlier sold a 10% stake to German auto giant Daimler.Besides making vehicles,Tesla also sells power train technology to other big auto producers.Toyota which is at the vanguard of “clean transportation” through its super successful hybrid Prius will invest $50 million in a private placement after Tesla’ IPO closes.Tesla had earlier announced its plan to make an IPO this year.After A123 systems this green IPO should generate the most media hype and excitement but I don’t think it will be very profitable for investors.The Toyota deal also includes Tesla taking over the NUMMI plant in California which has been closed down by the JV partners GM and Toyota earlier.This plant will now be used for making its new “Model S” EV sedans.
Joint Ventures in Electric Vehicles and Battery Startups
Like “Solar thermal” startups, Electric Vehicle startups like Tesla,Fisker,Coda require large amounts of capital to go into production.The continuous need for large capital infusions makes partnerships with established companies with large balance sheets essential . I think some of these ventures would be eventually be absorbed by the Honda’s and Toyotas of the world. Even with large govt funded loan grants and subsidies , the success of these startups is a big question mark . This is due to high technology,execution,capital and regulatory risks.
- Battery maker A123 Systems had tied up Fisker Automotive to supply batteries.It also put in $23 million to seal the supply deal with Fisker
- Norwegian EV producer Think has partnered with Ener1 to source batteries.This deal too involved a cash infusion from the battery suppplier to the EV producer.Think has also partnered with Japanese companies to license its power train technology
Nissan Leaf prompts Toyota to buy £35m stake in Tesla electric car company – ETA
Toyota, a company that favours hybrid technology such as that used in its Prius over electric vehicles, is to buy a £35m ($50m) stake in California electric-sports car maker Tesla. The decision comes months before Nissan is due to start selling the 100 per cent electric Leaf car in America.
As car makers in America are jostling to produce the cleanest cars as increasingly tough regulations push them to offer low-emission vehicles, Toyota and Tesla will jointly develop electric cars, parts and engineering support.
Tesla, Toyota to open electric car plant in Calif. – MSNBC
The heads of Tesla Motors Inc. and Toyota Motors Corp. say both automakers are partnering to build electric cars at a recently shuttered auto plant in the San Francisco Bay area.Toyota president Akio Toyoda said Thursday that his company is investing $50 million in the joint venture, which will include the development of an electric vehicle together.Tesla CEO Elon Musk says the electric carmaker will build its new Model S electric sedan at the New United Motor Manufacturing Inc., known as Nummi, in Fremont.
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[…] Tesla got a $50 million cash infusion from Toyota alongwith an unused plant.Tesla which is planning to launch an EV Sedan, already has an existing tie up with Daimler which bought an equity stake earlier.Daimler is also tying up with Chinese EV giant BYD auto to start a 50:50 JV to produce Electric Vehicles in China . BMW is already working with Brilliance China Automotive to produce Electric Vehicles in China by 2013.Honda and Coda Automotive are also looking to China for Battery Technology to fuel their Electric Vehicle ambitions.Indian utility vehicle maker Mahindra bought a majority stake in small EV producer Reva.General Motors which had a technology tie-up with Reva to produce Electric Vehicles in India canceled its tie-up and will now go it alone.Not to be outdone , Battery Technology is also seeing Increased Competition with Battery makers tying up with Electric Vehicle Producers. […]
[…] the growing rush into the Electric Vehicle Category.It has tied up with the much hyped up US Startup Tesla to introduce an EV RAV4,however its concentrating its energies on the Hybrid Car Market.Note another Japanese Automajor […]