An electric version of Toyota's RAV4 will be launched in the U.S.in 2012. Toyota Motor Corp. and electric vehicle upstart Tesla Motors Inc. will work together to develop this new vehicle.
The companies announced a partnership in May to develop and build electric cars at a recently closed auto factory in the San Francisco Bay area.
Tesla which at present sells only one vehicle, a two-seater electric sports car costing $109,000. It plans to sell the Model S in 2012 for $49,900, including federal tax credits. It's designed to travel up to 300 miles on a three- to five-hour charge.