Toyota Signs $100 Million Contract With Tesla Motors

Toyota Motor Co and Tesla Motors are teaming up to build an electrically motivated RAV4 SUV. The RAV4 EV will be powered by a Tesla electric powertrain, presumably similar to the powertrain found in the Tesla Roadster and upcoming Model S. According to a press release by Tesla Motors, the first prototype has already been built and they expect to have a fleet of RAV4 EV's ready for testing by the end of the year.

Source: Tesla Motors

Pictured: 2012 Toyota RAV4 V6