Tesla Buys $15 Million of Equipment and Parts From NUMMI Plant
The NUMMI venture between Toyota and General Motors may be long gone, but some of that partnership’s parts and equipment will live on with Tesla.
The electric vehicle company just bought $15 million worth of assets from the NUMMI plant in Fremont, California.
This follows Tesla’s agreement to purchase the plant for about $42 million. In July, Tesla and Toyota announced an electric version of the 2012 Toyota RAV4 SUV would be produced.
It’s possible the purchase of this equipment will help Tesla meet its deadlines for the Model S five-door. The car, according to Tesla, will head from 0-60 mph in 5.6 seconds and last 300 miles to a charge.
Shares of Tesla’s stock, which opened at $17 a share, closed at $19.10 on August 20.
Source: The Street, Tesla
By Zach Gale