Tesla developing Toyota RAV4 and Lexus RX electric vehicles

Tesla and Toyota announced a collaboration effort earlier this year to produce electric cars, and Tesla is now said to be developing electric-powered prototypes of the Toyota RAV4 and Lexus RX off-roaders, set to be ready by the end of July.

"We anticipate range and acceleration exceeding that of other announced electric vehicles of this class," Elon Musk, chief executive officer of Tesla. There are also plans for an all-electric version of Toyota's popular Corolla sedan, but the two SUVs get priority as they "are better suited to the weight of Tesla's battery pack".

The Tesla and Toyota tie-up sees the electric car specialist acquire Toyota's NUMMI factory in California as part of the deal, with the plant used to produce Tesla's Model S and other vehicles. Toyota meanwhile purchased a US$50 million stake in exchange. Tesla is also 5 percent owned by Daimler AG, who has invested about US$50 million in the firm over the past year.