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Tesla signs three-year pricing deal with battery cell maker Panasonic
Tesla and Panasonic have been reported to be in talks to expand the battery joint venture's capacity.
Tesla and Panasonic have been reported to be in talks to expand the battery joint venture's capacity.
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.
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.
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