Toyota Bets Big On Electric Carmaker Tesla
LYNN NEARY, host:
NPR's business news starts with a new car alliance.
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NEARY: Toyota is placing a big bet on the California electric car maker Tesla. The Japanese automaker announced it's taking a $50 million stake in the Silicon Valley start-up, which makes pricy electric sports cars. Toyota is known for its hybrids but hasn't said much about pure electric cars. Toyota's interest in Tesla started when CEO Akio Toyoda reportedly visited Tesla's chief executive and took a spin in one of his sports cars.
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