Tesla Signs Three-Year Pricing Deal With Battery Cell Maker Panasonic
Tesla Inc has signed a three-year pricing deal with Japan's Panasonic Corp relating to the manufacture and supply of lithium-ion battery cells at the Gigafactory in Nevada, the electric carmaker disclosed in a filing on Tuesday.
Tesla and Panasonic have been reported to be in talks to expand the battery joint venture's capacity.
Panasonic hinted in May that it was working to develop new batteries with Tesla, possibly with higher capacity.
Tesla also amended the general terms and conditions of its partnership with Panasonic
Tesla said the deal, signed last week and effective April 1, 2020, sets the terms for production capacity commitments by Panasonic and purchase volume commitments by Tesla over the first two years of the agreement.
Tesla also amended the general terms and conditions of its partnership with Panasonic, modifying the term to expire 10 years after Panasonic achieves certain manufacturing milestones.
Panasonic is no longer Tesla's exclusive battery supplier, but has been able to turn around the U.S. joint battery business as demand for Tesla's electric cars soar.
Last month, Tesla reported its third consecutive quarterly profit despite the economic impact of the coronavirus pandemic, taking investors by surprise.
Related News
Popular Tesla Models
Latest Cars
Upcoming Cars
Latest News
car&bike Team | Mar 10, 20262026 Hyundai Verna: Variants, Features, Prices ExplainedThe MY26 Verna is offered in six trim levels, 2 engine options and three transmission choices. Here is a rundown on what each variant has to offer.3 mins read
Amaan Ahmed | Mar 10, 2026Renault Bridger Sub-4M SUV Concept Unveiled: Mini Duster To Arrive In 2027 With Hybrid, EV OptionsAfter the Duster and a new 7-seat SUV, Renault will unleash its second product in India's subcompact SUV market, which has been previewed by the handsome Bridger concept.1 min read
car&bike Team | Mar 10, 2026Hyundai Venue HX8 Diesel Automatic Variant Launched At Rs 13.70 LakhHyundai has introduced a new HX8 diesel automatic variant for the Venue at Rs 13.70 lakh while announcing that the subcompact SUV has crossed 1 lakh bookings.1 min read
car&bike Team | Mar 10, 2026Royal Enfield Meteor 350 Crosses 6 Lakh Sales In 5 YearsSince its launch in November 2022, the Royal Enfield Meteor 350 has crossed the 6 lakh sales milestone, making it one of the most popular models from the brand.1 min read
Jafar Rizvi | Mar 10, 2026Mahindra BE 6 Batman Edition: Company Addresses Concerns Over Exclusivity; Confirms 999 More Units For 2026The carmaker has faced some backlash online after relaunching the BE 6 Batman Edition, with buyers of the first lot questioning the exclusivity promised to the initial buyers of the limited-run SUV.1 min read
Jaiveer Mehra | Mar 10, 2026FADA: Electric Car, Two-Wheeler Sales Grow Over 40% In Feb 2026Tata Motors lead the charge in electric passenger vehicle sales, while TVS stood at the top in the electric two-wheeler space.1 min read
Seshan Vijayraghvan | Mar 10, 20262026 Mercedes-Benz CLA Electric Review: It’s Properly Good!The CLA moniker has returned but in an electric avatar. As impressive as it is, can this baby EQS become a success story?9 mins read
Bilal Firfiray | Mar 9, 2026Citroen C3X Review: 3 Reasons To Buy & 3 Reasons To AvoidThe C3X, with its refined turbo-petrol engine and improved features, deserves your attention. Here’s what works, what doesn’t, and whether it’s worth your money.1 min read
Bilal Firfiray | Feb 28, 2026Tata Punch EV Facelift Review: More Range, More Sense, Less MoneyThe Tata Punch EV facelift gets a bigger 40 kWh battery, faster 60 kW DC charging, improved thermal management, and better real-world range, and all of that at a lower introductory price. But does it become a more complete package now?6 mins read
Preetam Bora | Feb 24, 2026Hero Destini 110 Review: Simplicity, RefinedThe Hero Destini 110 is a no-nonsense commuter that is simple, comfortable and above all, fuel efficient. In 2026, when buyers are spoilt for choice, is it good enough to consider?6 mins read
Preetam Bora | Feb 23, 2026TVS Apache RTX Road Test Review: Redefining the Entry-Level ADVAfter spending some time with the TVS Apache RTX in traffic, the daily commute, as well as on open highways, one thing becomes clear: the RTX is trying to redefine the entry-level ADV segment. But is it without fault?1 min read