Korea's local daily newspaper Chosun Ilbo today claims an exclusive report on a renewed partnership between Tesla and Toyota
This seems highly speculative so we should wait to see or hear something more concrete from Tesla
chosun.com/economy/int_ec…
This seems highly speculative so we should wait to see or hear something more concrete from Tesla
chosun.com/economy/int_ec…
Here is a translation of the Chosun Ilbo report :
It is heard that Tesla and Toyota have been reviewing their partnership since last year and are nearing the final stage
It is heard that Tesla and Toyota have been reviewing their partnership since last year and are nearing the final stage
According to an official from the Japanese auto industry on the 28th, Tesla and Toyota are considering co-developing a small electric SUV platform as the basic frame of the car
The alliance review has been under way since last year
The alliance review has been under way since last year
The main goal of the alliance is to provide Tesla with a vehicle platform, and for Tesla to provide Toyota with some of the electronic control platforms and software technologies installed in its vehicles
If the partnership with Toyota is established, Tesla will be able to use the Toyota platform to offer a small SUV electric car at a low cost
In addition Tesla's sales in Japan, which is around 1,000 units a year, are likely to increase significantly
In addition Tesla's sales in Japan, which is around 1,000 units a year, are likely to increase significantly
Tesla CEO Elon Musk said in September last year that "We will offer a $25,000 (half price) electric car in 2023" at its new technology open event Battery Day
However, many experts say "It would be difficult for Tesla to find a way to build an electric car at such a low price"
However, many experts say "It would be difficult for Tesla to find a way to build an electric car at such a low price"
Tesla released a semi-medium-sized electric vehicle "Model 3" in 2017 and a medium-sized electric SUV "Model Y" in 2020, to be followed by an electric pickup truck "CyberTruck" within this year
However, no specific details of the "half-price electric vehicle" that it plans to release in 2023 are known yet
Meanwhile Toyota could also use Tesla technology to greatly reduce the resources and time spent on innovation of its vehicles' integrated Electronic Control Unit ECU and Operating Dystem OS
Toyota is said to have fallen behind Tesla in integrated ECU and OS technologies that can control and improve vehicle functions through wireless Over The Air OTA updates
In other words, through cooperation between the two companies, Tesla can reduce the cost and period of developing small electric SUVs and Toyota can reduce the cost and duration of developing ECU and OS
It aims for a Win-Win effect that reduces the time it takes for the two companies to complement each other's weaknesses so that they can focus more on their strengths
Tesla and Toyota have been affiliated before
The two companies agreed to jointly develop electric vehicles in 2010 and introduced Toyota's RAV4 electric vehicles equipped with Tesla's battery system in 2012
The two companies agreed to jointly develop electric vehicles in 2010 and introduced Toyota's RAV4 electric vehicles equipped with Tesla's battery system in 2012
However, due to sluggish sales and other reasons Toyota sold all of its shares in Tesla in 2017 and the partnership ended
However, the close relationship between Musk and Toyota CEO Akio Toyoda has left room for future reunification
However, the close relationship between Musk and Toyota CEO Akio Toyoda has left room for future reunification
Tesla's California Fremont plant, a production facility at Tesla's headquarters, was originally a New United Motor Manufacturing Inc NUMMI factory where Toyota worked with GM to make cars between 1984 and 2009
Toyota transferred it to Tesla in 2010, which acquired various production technologies as well as production facilities from Toyota at that time
Last year, Toyota sold nearly 9 million units, beating Volkswagen to become the world's No. 1 seller
Last year, Toyota sold nearly 9 million units, beating Volkswagen to become the world's No. 1 seller
Toyota is currently focusing on making allies by abandoning its previous solo approach to coping with CASE (autonomous driving, sharing, and electrification)
On the 24th, it signed a partnership with Isuzu, a Japanese commercial vehicle company, to invest 450 billion won each
On the 24th, it signed a partnership with Isuzu, a Japanese commercial vehicle company, to invest 450 billion won each
Toyota and Isuzu along with its truck subsidiary Hino are planning to speed up the power and autonomous driving of commercial vehicles
Prior to this, Toyota also joined a joint venture to develop hydrogen fuel cells with five Chinese automotive and technology companies, including Tsinghua University, Beijing, Cheil, Dongfeng, and Guangzhou Motors
The jointly developed hydrogen fuel cell system is supposed to be used in Chinese trucks and buses starting in 2022
In addition, Toyota is also seeking to maximize its economy of scale related to electricity and autonomous driving, by forming a series of capital partnerships with its competitors Matsuda and Suzuki
On the other hand, Musk wrote on Twitter on 27 March 2021 :
"I think there is a >0% chance Tesla could be the biggest company"
"I think there is a >0% chance Tesla could be the biggest company"
Currently Tesla's market capitalization is about $600 billion, which is about one-third of Apple, currently the world's largest company by market capitalization
Tesla currently has 500,000 units sold as of last year, so it still has a task ahead to achieve full economies of scale
If the partnership with Toyota is established, it can be greatly encouraged to expand mass production faster at lower costs
If the partnership with Toyota is established, it can be greatly encouraged to expand mass production faster at lower costs
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