Just how much will Panasonic throw down on the table when it comes time to invest in Tesla’s new Gigafactory near Reno, Nev.? According to CEO Kazuhiro Tsuga, “tens of billions” of yen.
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Tag: Panasonic
It’s official: Panasonic and Tesla have signed an agreement regarding their partnership involving the Gigafactory.
It’s almost official: Panasonic and Tesla will enter into a basic agreement where the former will supply the latter with battery-production machines for the automaker’s up-and-coming Gigafactory.
Though Toyota will soon end its battery program with Tesla for its RAV4 EV crossovers, the automaker aims to remain R&D partners on battery technology. Meanwhile, Panasonic wants to be the only producer involved in Tesla’s Gigafactory production.
After months of speculation, Tesla drew back the curtain on their most ambitious project to date, the Gigafactory.
In the wake of Tesla shares hitting an all-time high of $259.20 after Morgan Stanley raised its target price to $320/share, battery maker Panasonic is gathering a few partners to go all in on a $1 billion investment in the automaker’s Gigafactory battery production plant.
Tesla Motors has used exclusively Panasonic lithium ion battery cells since it started selling electric cars. 2010 photo.
Panasonic Corp., which already is the largest supplier of lithium ion batteries for the electric car industry, has announced that it has signed a new contract with Tesla to supply battery cells for the Model S and upcoming Model X electric vehicles. The Japanese company will supply 2 billion 18650 form factor lithium-ion cells worth up to $7 billion over the next four years. Panasonic has been Tesla’s exclusive supplier of battery cells since it started selling its first EV, the Tesla Roadster. (Read More…)
Detroit is a funny market when it comes to advertising. In addition to the ads, commercials and billboards that you might see or hear in other markets from national and regional advertisers, there is some advertising that is specific to the automotive industry, usually from tier 1 vendors trying to make a sale to one of the domestic automakers. As a result, there might be a billboard on I-75 about, for example, exhaust systems, suspension components or audio equipment that is targeted at a relatively small audience, the people at Chrysler, GM and Ford who make the final engineering and purchasing decisions. (Read More…)
Speaking to MarketWatch at the Detroit Auto Show, Tesla Chairman Elon Musk apparently just revealed that the Tesla Model S sedan will be released “within two and a half years.” Which is interesting considering Musk claimed that production would start in 2011 at the Model S launch last March. But then, Tesla is still trying to decide on a factory location, apparently waffling between former aeronautical manufacturing locations in Downey and Long Beach. And apparently Tesla’s mere consideration of a brownfield site in Downey has drawn protests from a group calling themselves The Raging Grannies.
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