Tesla and Panasonic Reach Agreement on Gigafactory

Multinational electronics corporation, Panasonic, has signed an agreement with Tesla Motors that will help the proposed 500-1000 acre, $5 billion factory break ground. According to a post on the Tesla blog, “Tesla will prepare, provide and manage the land, buildings and utilities. Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in the associated equipment, machinery, and other manufacturing tools based on their mutual approval.”

Tesla's line of energy storage products

Tesla’s line of energy storage products

The factory will manufacture modules, packs, and cells for Tesla’s line of vehicles, and for the stationary energy storage market. In addition to providing an estimated 6,500 new jobs, the Gigafactory is being constructed to help lower the costs of long range batteries packs, while keeping up with the growing demand for one of Tesla’s vehicles. Although there is no set location for the factory, Tesla has been considering areas in Nevada, New Mexico, Texas, and Arizona.

 

To read more about the Gigafactory follow this link

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