It was in 2009 and 2010 when electric vehicle maker Tesla first entered into a supply deal with Panasonic for automotive-grade lithium-ion battery cells. After a year, the two companies finalized the deal.
The deal covers enough battery cells to develop over 80,000 EVs over the next four years. It also guarantees that there will be sufficient cells available next year to meet the carmaker’s fulfillment of over 6,000 existing Model S reservations at the same time meeting its margin and cost targets.
The new deal builds on a multi-year partnership between the two firms to create next-generation battery cells and speed up the market expansion of EVs.
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