29 Jul '14, 2pm

Panasonic to invest $200-300 million in #Tesla battery plant #batterynews

Panasonic to invest $200-300 million in #Tesla battery plant #batterynews

Panasonic Corp plans to initially invest about 20 billion to 30 billion yen ($200-300 million) in Tesla Motors Inc's planned lithium-ion battery plant in the United States, a person familiar with the matter said on Tuesday. The Japanese company, which already supplies batteries for the electric vehicle maker, will ultimately invest about $1 billion in the planned $5 billion battery "Gigafactory", the person said. The figures for Panasonic's investments were first reported by the Nikkei business daily earlier on Tuesday. A Panasonic spokesman declined to confirm the investment figures, saying that while the company has signed a letter of intent to participate in the Tesla battery project and was in talks on the matter, no concrete decisions had been made. A basic agreement on cooperation on the project between the two companies is due to be announced by the end of this week...

Full article: http://www.electric-vehiclenews.com/2014/07/panasonic-to-...

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@TeslaMotors

teslamotors.com 31 Jul '14, 7am

OSAKA, Japan / PALO ALTO, USA, July 31, 2014 – Panasonic Corporation and Tesla Motors, Inc. have signed an agreement that ...

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