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Tesla scores $100 million Toyota RAV4 EV-related contract

by Eric Loveday (RSS feed) on Jul 20th, 2011 at 7:01PM

Buried within its latest U.S. Securities and Exchange Commission (SEC) filing, Tesla Motors revealed that its deal with Toyota is to be pumped up, with the Japanese automaker agreeing to fork over an additional $100 million to Tesla. Initially, word of the agreement brought trading of Tesla stock (NASDAQ ticker symbol: TSLA) to an immediate halt. However, the freeze was short-lived, with TSLA shares currently trading in the ballpark of $29. For the record, Tesla's SEC filing reads: On July 15, 2011, Tesla Motors, Inc. entered into a Supply and Services Agreement with Toyota Motor... Read More

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