According to a recent report, Tesla is building two EV prototypes for Toyota.

Set to be delivered by the end of the month, the prototypes are modified Toyota vehicles with Tesla-designed batteries and electric motors. While neither company would say what models are being used, Toyota promised to deliver updates at "at each stage of development."

As we have previously reported, Toyota invested $50 million dollars in Tesla when their IPO was launched. While neither company was forthcoming with details, they confirmed plans to create a specialized team to design parts and production systems for future EVs.

Besides working with Tesla, Toyota is also building EVs in-house. The company previously announced plans to launch an electric-only version of their iQ minicar. Previewed by the FT-EV concept, the electric iQ will feature unique styling and a range of approximately 50 miles (81 km).

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