Deals
Toyota Buys Tesla Stake for Electric Car Tie-Up
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Toyota Motor Corp., the world’s largest automaker, is buying a $50 million stake in electric-car producer Tesla Motors Inc. as the companies seek to offer low- polluting models.
Tesla also will buy a closed Toyota joint-venture plant in California to build its Model S and other vehicles, Tesla Chief Executive Officer Elon Musk said yesterday. The companies plan to cooperate in developing electric cars, parts, production systems and engineering.