Tesla Enters New Partnership Deal with Panasonic For Securing Battery Cells

Tesla's Battery Day
Photo : Screenshot from Tesla's Official YouTube Channel

Tesla, Inc. - the number one and leading electronic vehicles (EV) manufacturer in the world today has announced that they will enter a new deal with world-renowned Japanese multinational company Panasonic involving battery cells, after an SEC filing happened today.

In an article by known EV news website Electrek, the deal is one of the EV company's moves in their latest run to perform attempts of securing large battery cell supplies in order to support their advancement goals in the coming future. Tesla has then released a formal SEC filing earlier today wherein it confirms that the company along with Panasonic has ventured into a 2021 pricing agreement since last week.

Tesla and Panasonic Relationship Through The Years

Tesla has been ordering battery cells from Panasonic which the former uses to their flagship and established model units, such as the Tesla Model S and Tesla Model X. The relationship between the two companies has been already long, with over a decade of Panasonic providing and supplying Tesla with their battery cells. The Japanese company is one of the few and limited battery suppliers which already had a deal with the top EV company in the world, yet there were also some ups and downs along the way in their proven trust with one another.

Also Read: Tesla a Day Closer to History-Defining Delivery Goal: Half a Million Units Expected by the End of 2020

With moves such as Tesla's attempt to develop, create, and manufacture their own batteries and power sources, this has affected the two companies' perception with one another. Also, when Panasonic did not reach their expected production targets and quota set in their Gigafactory in Nevada, USA, it also caused some rough edges between the two and almost sent them a finale on their then growing partnership.

It has been reported that the two companies did not meet halfway and agreed upon the pricing being set for the battery cells which were produced and manufactured at the factory. Tesla way back then had urged on the move to lower the prices, while on the other hand, Panasonic felt that they have favored to witness their 1.6 billion USD investment in the said factory return its price through the revenue the EV company would create. Yet as the deal has become official as of today, things might just go back to being what it has used to be - business relationships as usual.

Tesla's Next Moves

Further development on the fact that Tesla has stepped up to create and produce their very own batteries include that Panasonic has yet to create and build a new version of the battery cell which as designed primarily by Tesla. And of course, the recent deal itself tells it all - that part of Tesla's continuing desire to achieve its goals for the EV industry and business world as whole is the security of the battery cells provided by one of the most established and renowned battery cell producers in the world.

Some of Tesla's next moves include the upcoming launch of their developing CCS charging adapter, their reported desire to buy a legacy automaker, and their future car releases such as the Tesla Semi Truck which is one of the most anticipated electric truck releases according to Greenbiz, and the rumored European hatchbacks in the future.

Related Article: Tesla Confirms Upcoming Launch of New CCS Charging Adapter

© 2021 iTech Post All rights reserved. Do not reproduce without permission.

More from iTechPost