toyota-electric-rav4-CC-mediaguruTesla Motors will produce the electric Rav4 crossover SUVs for Toyota Motor Co. beginning in 2012, the two companies announced Friday.

A fleet of electric Rav4 prototypes will be delivered later this year, while the first prototype has already been built, they said, and is undergoing evaluation. The SUVs will be built in California.

Toyota announced in May that it planned to invest $50 million in Tesla Motors  upon the completion of the electric car maker’s initial public offering, which took place on June 29.

(READ the story in CNN Money)

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