Elon Musk, CEO of Tesla Motors Inc (NASDAQ:TSLA) indicated a few days ago about the possibility of another partnership with Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203) in the future. He made such statement when the company delivered its first Model S electric vehicles in Japan.
In response to Musk’s statement, Julie Hamp, the chief communications officer of Toyota Motor North America told the WSJ that the Japanese automaker has no current or pending partnership with the Palo Alto-based electric car manufacturer.
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“Our RAV4 EV project with Tesla, to supply 2,400 powertrains over approximately three years, has been mutually beneficial. We currently have no new, or pending projects under discussion,” according to Hamp.
Toyota ended partnership with Tesla
In a regulatory filing in May, Tesla Motors Inc (NASDAQ:TSLA) disclosed that its partnership agreement to supply battery packs for the RAV4 EV model of the Japanese automaker will end this year.
There had been reports that Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203) decided to wind down the sales of RAV4 EV model because the demand is low. The Japanese automaker only sold around 2,000 units within two years of its availability in the market.
The RAV4 EV has a 103-mile range, which is one of the longest-range electric vehicles available in the market. Its price is cheaper at $50,000 compared with the $70,000 Model S.
Toyota to launch hydrogen fuel-cell vehicle
Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203) is preparing the launching of its first hydrogen fuel-cell vehicle in California next year. According to WSJ, the management of the Japanese automaker has been openly uncertain of electric vehicles as a “pollution free” transport solution.
Takeshi Uchiyamada, Chairman of Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203) emphasized that innovations on cost and energy density are necessary to make battery-electric vehicles sensible.
Musk previously stated that hydrogen fuel-cell vehicles has no place in the future auto market, and even called the cars “fool cells” citing the reason that the need to spend energy through reformation makes fuel cells fundamentally flawed compared with batteries.
He backed off from his statement against fuel-cell vehicles when Tesla was delivering its Model S vehicles in Japan. According to him, there was value in testing other technology.