Toyota announced it was ending a partnership with Tesla. A few years earlier, Toyota had partnered with Tesla and agreed to use its lithium-ion battery pack and motor on some of its vehicles. The hope was that the firms could use their combined knowledge in electric vehicle technology to develop better products in this area. Eventually, Toyota began to focus more on hydrogen cell technology, and the partnership dissolved. This partnership between the two firms was most likely a(n) __________________.
A) franchise agreement
B) strategic alliance
C) export department
D) joint venture
E) trading company
Correct Answer:
Verified
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