In May, Tesla and TMC announced their intent to cooperate on the development of electric vehicles and parts, and on production systems and engineering. Tesla seeks to learn and benefit from TMC’s engineering, manufacturing and production expertise, while TMC aims to learn from Tesla’s EV technology, daring spirit, quick decision-making and flexibility.
TMC is working to limit the consumption of fossil fuels and to reduce CO2 emissions through the promotion of energy sources other than gasoline, such as electricity. In 1997, the company launched the "Prius", the world’s first mass-produced gasoline-electric hybrid passenger car, cumulative sales of which have recently passed 2 million units. Also, from 1996 to 2003 TMC sold approximately 1,900 units of the first RAV4 EV—the first marketed vehicle in the world to be propelled by a nickel-metal hydride battery.