Tesla CEO Elon Musk, left, shakes hands with Toyota CEO Akio Toyoda during a news conference last week. (Paul Sakuma / The Associated Press)
Tesla and Toyota team up on e-cars
Tesla Motors announced last week it would use a $50 million investment from Toyota to help it buy the recently closed Nummi auto plant in California and reopen it to build electric cars. Tesla chief Elon Musk says the new alliance will also lead to the production of a joint Toyota-Tesla car that would be a Toyota vehicle powered by a Tesla drive-train. It would hit the market before the Tesla Model S, due out in 2012. The companies also plan to develop future electric vehicles together, he says.
-- The Associated Press
The 2011 Jeep Grand Cherokee is rolled out during a ceremony in Detroit on May 21. (Carlos Osorio / The Associated Press)
High hopes pinned on new Cherokee
Chrysler is rolling out its first new vehicle since 2008 -- the redesigned 2011 Jeep Grand Cherokee. The crossover -- one of the most popular and widely recognized models during the SUV boom -- is being lauded by the automaker as the "symbol of the new Chrysler." It starts at $31,000, and is expected to arrive in showrooms in mid-June. Chrysler's only other planned releases this year are the Fiat 500 and a redesigned version of the Chrysler 300 full-size sedan.
-- New York Times News Service
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