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Panasonic forms US li-ion company for Tesla’s 'Gigafactory'

Fri, 10/10/2014 - 16:03 -- Laura Varriale
Tesla's planned 'Gigafactory'

Japan’s electronics producer Panasonic has established a company to produce and sell lithium-ion batteries for Tesla’s 'Gigafactory' in the US.

The Panasonic Energy Corporation of North America will be built on-site of Tesla’s $5 billion factory in Nevada, US. The US subsidiary is planned to reduce the cost of long-range battery packs and will expand the production process accordingly to Tesla’s electric vehicle (EV) delivery schedule to meet Tesla’s goal of mass-market EV’s.

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