Is the Next Prius Going To Be A Tesla?

Toyota and Tesla announced a new partnership at Tesla’s headquarters in Palo Alto today, the auto makers will collaborate on technology, the development of new electric vehicles and Toyota will purchase $50 million of Tesla’s common stock. The press conference featured the Governor of California, Arnold Schwarzenegger, Tesla CEO, Elon Musk and TMC President, Akio Toyoda.

Calling it an “explosion” for California (I think he meant this in the positive sense, not the Terminator sense) Schwarzenegger framed it as a victory for California’s environmental agenda and the economy. He predicts it will create 1,000 jobs for the state’s embattled economy.