Tesla Says It's Talking $1 Billion Deal With Toyota

Tesla Says It's Talking $1 Billion Deal With Toyota

Tesla Motors CEO Elon Musk announced Wednesday that the Silicon Valley EV maker is negotiating a potential $1 billion deal with Toyota. In a conference call with analysts, Musk said the just-ended second quarter was the best in Tesla's history, with tremendous demand for the Roadster sports car and the upcoming Model S sedan—both battery-electric vehicles—as well as signing a $100 million deal with Toyota, and "we're in discussions with them for a deal that is an order of magnitude larger than that." A Tesla official later confirmed to AutoObserver that by "order of magnitude," Musk was stating that the 8-year-old company was discussing a $1 billion deal with the world's largest automaker.

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