Blog 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% to 39 gigawatt-hours per year.

“This is the first capacity expansion at Gigafactory since it opened in 2017,” the report said. “Panasonic is also upgrading the batteries being produced at Gigafactory, raising each battery’s storage capacity by 5%, starting in September.”

Panasonic has been a longtime partner for Tesla, however there’s been some shuffling of their arrangement in the past year. The two companies have ended a partnership to produce solar products at Tesla’s Gigafactory in Buffalo, New York. And, Tesla contracted an additional battery vendor, LG Chem, to provide cells for the Model 3 sedans built at Giga Shanghai.

As Tesla adds new models and consumer demand for electric vehicles and energy products like solar and energy storage continue to grow, Tesla will need to continue growing its battery cell supply. 

There will be more details about Tesla’s battery efforts at the upcoming “Battery Day” scheduled for September 21. Tesla watchers have speculated the company will unveil a battery with a million-mile lifespan.

 

[Chaserr]

“Panasonic is also upgrading the batteries being produced at Gigafactory, raising each battery’s storage capacity by 5%, starting in September.”

420 mile Model S memes ahead!

This is big in general. Replacement batteries for older cars would even benefit. I wonder if this is what they were testing with those 350 volt "85" badged replacements that had 92kwh actual capacity?

 

[SageBrush]

Yeah, that 5% energy increase is most welcome, and interesting. I wonder how much of it will be:

• More weight per volume
• Higher voltage
• More internal surface area

 

[Michelle_eriw]

Yeah, that 5% energy increase is most welcome, and interesting. I wonder how much of it will be:

• More weight per volume
• Higher voltage
• More internal surface area

And when?

 

[Michelle_eriw]

Does it tickle anyone else's funny bone that the battery plant is in Sparks?

 

[Retired in AZ]

Yes. It gives me a jolt.

 

[CSDunford]

“Panasonic is also upgrading the batteries being produced at Gigafactory, raising each battery’s storage capacity by 5%, starting in September.”

420 mile Model S memes ahead!

This is big in general. Replacement batteries for older cars would even benefit. I wonder if this is what they were testing with those 350 volt "85" badged replacements that had 92kwh actual capacity?

 

[CSDunford]

This would be awesome. I have a 2014 MS 85 that I simply adore. While I will probably get a new one when the wheels fall off this one, it would be tempting to keep this and just get the newer batteries. 90k miles and climbing quickly with an 80-mile round trip commute.

 

[suzannest]

Watch Panasonic. They're gonna go big on battery day!

 

[MrFrosty]

Way to Go Panasonic!!!! Invest $100 Million in Tesla Stock....Stock splits 5-1shares end of this month!!! Great move Panasonic, you're gonna be rolling in the money!!!