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Panasonic Corporation and Tesla Motors finalize supply agreement for automotive-grade lithium-ion battery cells

Panasonic Corporation and Tesla Motors finalized a supply agreement for automotive-grade lithium-ion battery cells. The agreement supplies Tesla with Panasonic’s lithium-ion battery cells to build more than 80,000 vehicles over the next four years.

The agreement guarantees the availability of enough cells in 2012 to meet Tesla’s planned aggressive production ramp-up and fulfillment of more than 6,000 existing Model S reservations. This supply agreement helps ensure Tesla will meet its cost and margin targets for Model S.

This agreement builds upon a multi-year collaboration between Panasonic and Tesla to develop next-generation automotive-grade battery cells and accelerate the market expansion of electric vehicles. (Earlier post.) In 2009, Panasonic and Tesla initially entered into a supply agreement. In 2010, Panasonic invested $30 million in Tesla to deepen the partnership and foster the growth of the electric vehicle industry. (Earlier post.)

Panasonic supplies cells using its nickel-type cathode technology. Panasonic and Tesla together have developed a next-generation battery cell based on this nickel chemistry and optimized specifically for electric vehicle quality and life.

Comments

Reel$$

Nickel appears to be playing a major role in new energy on Earth. We see it appearing here in the Pana cathodes and of course in Italy and Princeton in commercialized LANR heater/generators. Amazing new world we are creating around energy for everyone.

Tesla now has some very deep pocket investors including Daimler, Toyota and Panasonic. Not to mention the American people who have ponied up around 400M in guarantees. The Model S looks to be a consummate work of engineering.

DaveD

A ~200kg battery pack providing 160 mile range for the "low end Model S" is a very interesting proposition. This is why they can target a price in the mid $50k range for a car that can compete on every front with a BMW 7 series for $20k less money. And if you need the 300 mile range, then you can get that as well.

I think this car is an absolute winner.

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