Paul Sakuma / AP Photo
Maybe this will help Toyota recover from its recall scandal? Tesla Motors Inc. and Toyota Motors are teaming up and will be building electric cars at a recently closed auto plant in California. Toyota President Akio Toyoda announced his company is dropping a cool $50 million to develop an electric vehicle as part of the deal for when the company goes public. Tesla CEO Elon Musk said his company will be producing the new Model S electric sedan from a plant in Fremont. Tesla's electric sports car currently costs $109,000, but the Model S will be priced at $49,000 and able to run 300 miles on a three- to five-hour charge. Tesla ruffled the feathers of officials from the city of Downey, who were expecting the company to lease property from them and had spent months wooing the carmaker.