It's official: Panasonic and Tesla have signed an agreement regarding their partnership involving the Gigafactory.
In their joint press release, Tesla will be responsible for preparing, providing and managing the basics of the factory, while Panasonic will build and provide the cylindrical lithium-ion cells needed for Tesla's battery packs, as well as any equipment Tesla may need. Tesla will also continue to purchase cells from Panasonic's factories in Japan to meet projected demand.
Tesla Chief Technical Officer J.B. Straubel said the Gigafactory "represents a fundamental change in the way large scale battery production can be realized," especially when it comes to dramatically reducing the cost of energy storage "across a broad range of applications." Panasonic Executive Vice President Yoshihiko Yamada added that the Gigafactory partnership would "accelerate the expansion of the electric vehicle market" once production of Panasonic batteries begin.
The Gigafactory is expected to produce 35 GWh of cells and 50 GWh of packs annually by 2020 for both electric vehicles and stationary applications, employing up to 6,500 to produce the batteries.
The post Panasonic, Tesla Enter Into Gigafactory Agreement appeared first on The Truth About Cars.
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