Like the fantastical Lexus QS you see above? (FYI, it's actually a Tesla Model S with Lexus badging). Any real-world car that blends work from both Tesla Motors and Toyota is unlikely, even though the two companies will be working together to build electric cars at NUMMI. In an amended IPO statement, Tesla revealed the following:
In May 2010, Tesla and Toyota Motor Corporation, or Toyota, announced their intention to cooperate on the development of electric vehicles, and for Tesla to receive Toyota's support with sourcing parts and production and engineering expertise for the Model S. However, we have not entered into any agreements with Toyota for any such arrangements, including any purchase orders, and we may never do so.
Not surprising, just a clarifying remark, and it should stop any rumors that the two companies are doing anything more than sharing manufacturing space and strategies. With this latest bit of cold water and the continuing, um, interesting news about Tesla CEO Elon Musk's financial situation, who's going to still be interested when TSLA finally hits the Nasdaq?

[Source: New York Times | Speculative rendering by reader Joona Kallio]