Tesla is getting some competition from Japan: Tokyo-based chemicals giant Toray has taken the wraps off Teewave AR1 (short for “Toray Eco Efficient Advanced Roadstar 1”), a two-seat sports car over the weekend.The company invested a total of US$3.8 million in the development of the electric vehicle whose main selling point is its low weight: Toray used carbon fiber reinforced plastic in the floor, frame and other parts of the car to make it as light as possible.