New press release identifies the vehicles as the RAV4 and changes the details concerning prototype delivery.
Electric car company Tesla Motors (Nasdaq: TSLA) verified details of its development deal with Toyota (NYSE: TM).
The companies have signed an agreement to initiate the development of an electric version of the RAV4. Tesla will deliver a "fleet" of prototypes to Toyota by the end of the year that will contain Tesla-designed elecric powertrains. The first prototype has already been built and is now undergoing testing, Tesla said in a release.
Unconfirmed reports first suggested such an agreement was set in place in May when Toyota agreed to invest $50 million in Tesla, if the company went public this year.
Tesla began trading on the Nasdaq on June 29. Share prices surge around 50% in the first week of trading before settling around the IPO price of $17.
