Actions

Fremont Factory

From Tesla Motors Wiki

The original intention was to build Model S in New Mexico, but a meeting between Akio Toyoda, President of Toyota, and Elon Musk led to a remarkable outcome: Toyota would sell the 380-acre GM/Toyota New United Motor Manufacturing, Inc. (NUMMI) plant in Fremont, California to Tesla for $42 million[1], and simultaneously invest $50 million in Tesla. This essentially provided Tesla a ready-made 5.4 million sq. ft. factory capable of producing 400,000 cars-per-year, for free.

Notes

  1. http://venturebeat.com/2010/05/27/tesla-paid-42m-for-nummi-but-doesnt-have-deal-to-build-cars-with-toyota/