How Tesla Is Electrifying Toyota’s Brand

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A Tesla electric roadster

Martyn Goddard/Corbis

Shoddy gas pedals turned 2010 into a dark year for Toyota. The automaker’s recent solution to that problem: remove the gas.

Wired dives into the Japanese automaker’s Thursday decision to partner with Tesla motors to design and manufacture electric cars. The merger certifies that Toyota will purchase $50 million of common stock, once Tesla hits the public market.

“It is an honor and a powerful endorsement of our technology that Toyota would choose to invest in and partner with Tesla,” said Tesla CEO and cofounder Elon Musk in a company press release. “We look forward to learning and benefiting from Toyota’s legendary engineering, manufacturing, and production expertise.”

While Toyota brings its brand name, Musk will supplement the auto giant with his diverse mind. His business interests also include the co-founding of PayPal and SpaceX. See a video showing why Musk was named one of TIME’s 100 most influential people in the world.