Business & Finance

Ontario gets Toyota's 1st non-Japan electric vehicle

TORONTO : Toyota Motor Co plans to invest up to C$506 million ($516 million) to produce an electric version of its RAV4

Published August 5, 2011 Updated August 5, 2011 04:06pm

1 min

By Muhammad Iqbal

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The governments of Canada and Ontario will each contribute up to C$70.84 million in repayable loans toward the venture, which is a joint project with Tesla Motors Inc.

The compact crossover vehicles will be built on the same line as the gasoline-powered RAV4 at the Woodstock plant, about 135 km (84 miles) from Toronto.

Toyota will pay Tesla around $100 million to supply the electric power-train, which includes the battery, motor, gear box and power electronics for the RAV4 EV.

The electric power-trains will be built at Tesla's production facility in Palo Alto, California and then shipped to Woodstock for final assembly into the vehicle.

Toyota said details on US pricing and distribution of the electric RAV4 would be announced later. A decision about sales in Canada has not yet been made.

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