Musk: Tesla negotiating $1 billion deal with Toyota

Posted: Aug 03, 2011

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Tesla Motors recently reached a $100 million deal with Toyota where the electric-car maker will supply the powertrain equipment for the RAV4 EV.

Tesla’s CEO Elon Musk announced earlier today that the company is now negotiating a potential $1 billion deal with Toyota.

During a conference call earlier today, Musk said that the second quarter was the best in Tesla’s history, with huge demand for the Roadster and the upcoming Model S sedan

Highlighting the $100 million dollar deal with Toyota, Musk said that “we’re in discussions with them for a deal that is an order of magnitude larger than that.”