Panasonic Invests $30M In Tesla Motors

Panasonic has invested $30 million in Tesla Motors, building upon a multi-year collaboration of the two companies to accelerate the market expansion of the electric vehicle, the companies said. The investment was made through the purchase of Tesla common stock in a private placement at a price of $21.15 per share. Panasonic is a major battery cell manufacturer and a supplier to the global automotive industry. Tesla currently uses Panasonic battery cells in its advanced battery packs and has collaborated with Panasonic on the development of next-generation battery cells designed specifically for electric vehicles. While Tesla's current battery strategy incorporates proprietary packaging using cells from multiple battery suppliers, Tesla has selected Panasonic as its preferred lithium-ion battery cell supplier for its battery packs, the CE manufacturer said.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

AEE Solar - A Three Decade Commitment to Renewable Energy

AEE Solar - A Three Decade Commitment to Renewable Energy

AEE Solar was founded by David Katz 1979 as Alternative Energy Engineering with the goal of bringing renewable, non-polluting power to homes and businesses in the northern California coastal redwood region. Thirty years later, AEE continues to deliver the products, training and support needed to succeed. We supply resellers, contractors, integrators, and installers the field-tested, reliable products they need to design, install and maintain renewable energy systems.