Tesla secures $100 million agreement for Toyota RAV4 EV all-electric crossover production

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Toyota unveiled the new RAV4 EV electric crossover at the 2010 LA Auto Show, and recently it confirmed for that the Toyota RAV4 EV all-electric crossover will be sold to the general public starting next year. Now, Tesla just secured a $100 million deal with Toyota to supply its electric powertrains for the production of the new Toyota RAV4 EV electric crossover.

Toyota had previously agreed to pay Tesla $60 million for initial technology and development of the Toyota RAV4 EV, but now Toyota has agreed to even more for the production of the Toyota RAV4 EV.

Toyota purchased a 2.9 percent stake in Tesla last year. The Tesla deal will provide electrical components and associated technology for a production run from 2012 through until 2014 for the new Toyota RAV4 EV crossover.