Panasonic sold its stake in Tesla worth about $3.61 billion. Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010, for about 2.4 billion yen ($21.65 million). The stock is now worth $679.82 apiece, making for an incredible profit. Reuters reported the news, citing a spokesperson for Panasonic, an important supplier of batteries for Tesla.… Continue reading Panasonic Sells Tesla Stake for $3.6B
Tag: Panasonic
Panasonic Invests $100M to Boost Tesla Gigafactory Production
Tesla’s battery production efforts have received a $100 million investment from Panasonic, according to a report from Nikkei, a a news outlet based in Japan. Proceeds will be used to expand Tesla’s Gigafactory located in Sparks, Nevada. The report said Panasonic will add another line, bringing the total to 14 and will increase capacity by 10%… Continue reading Panasonic Invests $100M to Boost Tesla Gigafactory Production
Panasonic Plans to Bump Battery Density by 20% in 5 Years
Panasonic’s new “2170” lithium-ion battery cells will improve energy density by 20% over the next five years, the company said Thursday. The “2170” lithium-ion cells were first used in Tesla’s Model 3 in 2017. The battery already has the highest density, but the latest development should make an impact on the range of Tesla’s vehicles.… Continue reading Panasonic Plans to Bump Battery Density by 20% in 5 Years
Panasonic to Exit Partnership at Giga New York
Panasonic said Wednesday that it will end a four-year partnership with Tesla to produce batteries at Giga New York. Panasonic said in a release that it will cease operations by the end of May and exit the facility by the end of September. This decision will have no impact on Panasonic and Tesla’s partnership in… Continue reading Panasonic to Exit Partnership at Giga New York
Panasonic Wants More Efficiency as Gigafactory 1 Ramps Up
Panasonic said this week in its earnings report that it is ramping up battery production at Gigafactory 1, its joint venture with Tesla. “We are quickly ramping up battery production (at the Gigafactory), but improvements in production efficiency have been delayed,” Chief Financial Officer Hirokazu Umeda said in a briefing Thursday. Umeda added that Gigafactory… Continue reading Panasonic Wants More Efficiency as Gigafactory 1 Ramps Up
Report: Tesla Operating Secret Battery Research Lab
Tesla is operating a secret research and development facility where it aims to build its own battery cells, according to a report from CNBC. The electric vehicle maker currently relies on Panasonic to produce cells, but Tesla likely hopes to lower the development cost and increase the performance of the battery packs used in its… Continue reading Report: Tesla Operating Secret Battery Research Lab