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Investments

May 25, 2010

Toyota to Invest $50 Million in Tesla

Toyota announced it would invest $50 million into San Carlos-based luxury electric carmaker Tesla in the development and manufacture of electric cars.

By Fiona Smith

Daily Journal Staff Writer

Lawyers behind the landmark deal announced late last week to build electric cars at a recently shuttered auto manufacturing plant in Fremont helped pull the deal together in a matter of weeks. Less than two months after the heads of Toyota Motor Corp. and San Carlos-based luxury electric carmaker met to discuss working together, Toyota announced it would invest $50 million into Silicon Valley startup...

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