Okay, so executives during Panasonic probably aren’t in any big precipitate to get ahead in the prolonged, prolonged wait for for the Model S, though the $30 million gift could probably get ‘em only that. Panny has this week sunk quite a couple of bills into Tesla by approach of the common batch squeeze, and whilst a two have voiced affinity for each other prior to, this kind of investment doesn’t happen without the critical tie-up being in a functions. Of march, Panasonic only so happens to be the planet’s heading battery cell manufacturer, and as of right away, it’s being called Tesla’s “elite lithium-ion battery cell supplier for the battery packs.” So yeah, you know where to look first when things begin overheating, melting or spontaneously erupting in flames. Show full PR textPanasonic Invests $30 Million in Tesla: Companies Strengthen Collaborative Relationship

PALO ALTO, Calif.–(BUSINESS WIRE)– Panasonic Corporation as well as Tesla Motors (NASDAQ:TSLA) currently announced which Panasonic has invested $30 million in Tesla. The investment was done by the squeeze of Tesla common stock in a private chain during a price of $21.15 per share. The investment builds on the multi-year collaboration of a two companies to accelerate the marketplace expansion of a electric car.

Panasonic is a world’s leading battery cell manufacturer as well as a diverse retailer to the tellurian automotive industry. Tesla currently uses Panasonic battery cells in its modernized battery packs and has collaborated with Panasonic on a growth of subsequent generation battery cells written privately for electric vehicles. While Tesla’s current battery plan incorporates exclusive packaging regulating cells from multiple battery suppliers, Tesla has comparison Panasonic as the elite lithium-ion battery cell retailer for its battery packs.

“Panasonic aims to be the series a single Green Innovation Company in the Electronics Industry by 2018, the 100th anniversary of the first,” said Naoto Noguchi, President of Energy Company, a section of Panasonic responsible for the battery cell commercial operation. “Our worldly lithium-ion battery cell technology, combined with Tesla’s market-leading EV powertrain technology, helps us perform this idea by compelling sustainable mobility. We are proud to make firm the attribute with Tesla Motors.”

“It is an respect as well as a absolute publicity of the record which Panasonic, the world’s heading battery cell manufacturer, would select to invest in as well as partner with Tesla,” pronounced Tesla CEO as well as cofounder Elon Musk. “Panasonic offers the top energy-density cells and industry-leading opening with slicing corner Nickel-type cathode record. We believe the partnership with them will enable us to further improve our battery container whilst reducing cost.”

In further to producing its own vehicles, Tesla additionally builds electric powertrains, together with battery packs, for alternative vehicle manufacturers. Panasonic as well as Tesla intend to explore corner selling and sales of battery packs that would be written and fabricated by Tesla regulating Panasonic’s battery cells.

About Panasonic

Panasonic Corporation is the worldwide personality in the growth and manufacture of electronic products for the far-reaching operation of consumer, commercial operation, as well as industrial needs. Based in Osaka, Japan, a association available consolidated net sales of 7.42 trillion yen (US$79.4 billion) for the year finished March 31, 2010. The company’s shares have been listed upon the Tokyo, Osaka, Nagoya as well as New York (NYSE:PC) stock exchanges. For some-more information upon the company as well as a Panasonic brand, revisit a company’s website during http://panasonic.net/.

About Tesla Motors

Tesla’s idea is to furnish a full operation of electric cars, from premium sports cars to mass market vehicles – relentlessly driving down a price of electric vehicles. It is now the only automaker in a U.S. which builds and sells highway-capable EVs in sequence production. Palo Alto, Calif.-based Tesla designs as well as manufactures EVs as well as EV powertrain components. Tesla has delivered more than 1,300 Roadsters to business in North America, Europe and Asia. The Tesla Roadster accelerates faster than many sports cars nonetheless produces no emissions. Visit Tesla online at www.teslamotors.com.

Via Engadget