—Partners: Electric car maker Tesla Motors has announced a partnership with Japanese automotive giant Toyota to develop electric vehicles and production systems, according to an WREX.com item. Toyota will buy $50 million worth of Tesla common stock in a private placement once Tesla’s initial public offering is closed.
“Toyota is a company founded on innovation, quality, and commitment to sustainable mobility,” said Tesla co-founder and CEO Elon Must, in a statement. “It is an honor and a powerful endorsement of our technology that Toyota would choose to invest in and partner with Tesla. We look forward to learning and benefiting from Toyota’s legendary engineering, manufacturing, and production expertise.”
—Audi and the Internet: The 2011 Audi A8 will offer, alongside a more powerful engine and eight-speed automatic transmission, the option of a factory-installed wireless hotspot for continuous Internet access, Motor Trend magazine reported.