Panasonic invests US$30m in Tesla

4 Nov 2010

Panasonic has invested US$30m (around €21m) in Tesla Motors, the Silicon Valley car manufacturer and Panasonic Corporation have announced.

Panasonic’s battery cell technology currently features in Tesla advanced battery packs and both companies have a history of collaboration.

Tesla, champions of the electric vehicle, has selected Panasonic as its preferred lithium-ion battery cell supplier for its battery packs in their range of vehicles – which currently include the sporty Roadster and the sedan Model S.

“Panasonic aims to be the No 1 green innovation company in the electronics industry by 2018. Our sophisticated lithium-ion battery cell technology, combined with Tesla’s market-leading EV powertrain technology, helps us fulfil this goal by promoting sustainable mobility,” said Naoto Noguchi, president of Energy Company, a unit of Panasonic responsible for the battery cell business.

Panasonic is in line to keep that promise, having recently finished in sixth place in a recent Greenpeace Guide to Greener Electronics.