UPDATE 1-Tesla, Toyota to make electric RAV4 for U.S.

*Tesla, Toyota announce signing to make electric RAV4

* MOU was signed last Thursday, but vehicle not named

DETROIT, July 16 (BestGrowthStock) – Tesla Motors Inc (TSLA.O: ) and
Toyota Motor Corp (7203.T: ) said on Friday that they will
together build and market an electric RAV4 sports utility
vehicle by 2012.

Tesla shares rose as much as 6 percent in early trading on
the Nasdaq.

The two companies signed an agreement last Thursday to
build and market electric vehicles for the U.S. market but did
not reveal that the RAV4 would be involved until today.

Two prototypes will be shown later this month, the
companies said last week.

After spiking to $21.00, shares of Tesla were up 2.7
percent at percent on Friday morning at $20.43.

The company began public trading last month.

Toyota shares in Japan fell 1.3 percent on Friday. The
market in Japan closed before the announcement.
(Reporting by Bernie Woodall, editing by Gerald E. McCormick)

UPDATE 1-Tesla, Toyota to make electric RAV4 for U.S.