Tesla Motors Buys NUMMI, but Doesnt Have a Electric Car Deal With Toyota

Tesla Motors has just released a revised filing for their upcoming IPO. Tesla are reportedly buying NUMMI plant for $42 million and it is now confirmed that Tesla doesnt have a formal deal with Toyota to build a new electric vehicle yet.

For anyone who followed the hyped news of the Tesla-Toyota partnership last week, it would seem that the two companies had signed an official agreement to build what Tesla CEO Elon Musk was calling a “third-generation” vehicle (its Model S sedan is the second generation) together. In fact, the purchase of NUMMI only seems to make sense if this joint car project comes to fruition – the Model S is only supposed to make up a small fraction of the vehicles produced at the facility.