Toyota Motor has terminated its business and capital partnership with U.S. electric car maker Tesla on Saturday, 3 June 2017.
Going forward, the leading Japanese automaker will try to speed up its development of electric cars by consolidating the technologies of affiliated parts makers at a unit launched late last year.
Toyota is said to lag its rivals in electric vehicle development.
Toyota in 2010 paid $50 million for about a 3% stake in Tesla. Around the same time, it paid $42 million for part of the site of a joint venture it once had with General Motors, thinking the old plant could be updated and used for producing electric cars.
In 2012, Toyota released the RAV4 EV, an SUV, with Tesla-made batteries. But the partnership was short-lived.
Tesla’s market seems to get smaller and Elon’s worries seem to be getting bigger.
Automaker Mahindra & Mahindra plans to ramp up production of its electric vehicles to 5,000 units a month by mid-2019 from 400 units currently… and will invest in making batteries that enable cars to run for 400 kilometres on a single charge, managing director Pawan Goenka said.
(We at PIC (PlugInCaroo) feel that 200kms for a car is the right balance of range, charging-time & price. On the other hand to charge a 400km car would take about 18 hrs which is just Crazy Crazy Crazy idea and of course almost double the price of the vehicle).
Mahindra seems to have sold only 2,700 vehicles since, including the e2o small car and eVerito sedan (eVerito was never offered for sales in the first place only offered to some taxi company on a pilot project).
It is also planning an electric 3 wheeler to be released in August 2017, a 32 seater bus and an SUV in a couple of years.
This has come amidst the news that M&M exited from Britan. This exit makes perfect sense and it was excellent by M&M to make this quick decision because M&M was eying the Europe Market and not the tiny UK market. Britan exiting the Euro was a huge setback to Mahindra.
Mahindra finally seems to have decided for good that EVs are feasible in India… and India is going to be their focal market. Rise Mahindra Rise… and meet the challenge of EVs in India.