Friday, May 21, 2010

Toyota and Tesla!

Toyota and Tesla announced yesterday that they would be cooperating on development of electric vehicles and components. In addition, Tesla will be buying the old NUMMI plant in Fremont, CA, where they will produce the new Model S sedan.

Despite Tesla recruiting executives from automotive firms, there has been criticism that the start-up electric car manufacturer lacks automotive experience. This deal with Toyota should silence most of the naysayers, and the combination of Toyota's legendary engineering and production skill coupled with Elon Musk's entrepreneurial spirit should result in both amazing advances in vehicle technology as well as reduction in the cost of EVs.

Read more about it here:

This is exactly the sort of venture that will create real jobs and develop technology that will launch the next generation of autos.

Thomas Friedman's constant refrain that we need to innovate our way out of this crisis is right on the money. Instead of bailing out arrogant companies that will never learn, the federal government should be funding basic science research that inspires and enables the next generation of technology breakthroughs.

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