Tesla Motors Inc, Panasonic Agree To Step Up Auto Investment At Tesla Gigafactory

摘要

Tesla Motors Inc has inked a deal with Panasonic Corporation in its attempts to step up auto investment at the company's Gigafactory. Under the deal, Panasonic is expected to dispatch hundreds of its employees to the Nevada based factory from fall this year, to begin preparation f the production of lithium-ion batteries for electric vehicles. The production for the batteries at the electric car plant is confirmed to begin sometime in 2016. The Japanese electronics group's partnership with the ambitious automobile manufacturer Tesla is a crucial part of an aggressive restructuring the company has taken up to tackle with persistent losses. Over the recent times, Panasonic has been squeezed by mounting competition in the Asian markets as new and innovative players entered the market with pricing points well below Panasonic's.