The Japanese battery manufacturer Panasonic has sold its stake in Tesla for 3.6 billion dollars (the equivalent of about three billion euros). A good deal, because the company bought 1.4 million Tesla shares for around 30 million dollars more than ten years ago.
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Panasonic has presented its business figures for the 2021 financial year that ended at the end of March. The production of battery cells with Tesla in the Gigafactory 1 in Nevada was profitable for the first time over the entire financial year.
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Tesla has reached a new pricing agreement with its longtime partner Panasonic on battery cells manufactured in Japan for the period Oct. 1, 2020, through March 31, 2022, according to a now-released filing with the U.S. Securities and Exchange Commission.
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Panasonic wants to start the production of prototypes of the new 4680 battery cell presented by Tesla at Battery Day as early as 2021. Production is most likely to take place in the company’s Nevada Gigafactory.
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Panasonic has signed a memorandum of understanding (MoU) with the energy company Equinor and the industrial group Norsk Hydro to explore the possibilities for building a “sustainable and cost-effective European battery business” for electric vehicles, likely in Norway.
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Panasonic is working on the development of a new battery cell for Tesla, based on the new 4680 format presented by Tesla at ‘Battery Day’. The South Korean battery company LG Chem, who similarly supplies Tesla, is also developing a new round cell that is very similar to the key data of the new Tesla […]
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Prime Planet Energy & Solutions, the battery joint venture between Toyota and Panasonic founded in April 2020, aims to increase the efficiency of its development and production processes tenfold in order to better compete with larger Chinese competitors.
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The battery joint venture between Toyota and Panasonic, Prime Planet Energy & Solutions, is building up capacity to produce batteries for hybrid vehicles. The joint venture is installing a production line for prismatic lithium-ion batteries.
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South Korean electric vehicle battery manufacturers more than doubled their market share between January and July 2020. In general, the market contracted by 16.8 per cent from 64.1 to 53.3 GWh capacity during the first seven months of the year due to corona.
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The Tesla-Panasonic partnership is warming with expansion and cell innovation underway. The Japanese company will invest 100 million dollars at the Gigafactory 1 in Nevada to set up another production line to increase capacity by 10 per cent.
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Tesla has signed a new three-year price agreement with Panasonic to manufacture and supply battery cells at Gigafactory 1 in Nevada. The general terms and conditions have also been adjusted in some points as part of the partnership.
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Tesla and Panasonic’s Gigafactory 1 in Nevada was profitable in Q1/2020, the CFO of Panasonic stated in the announcement of the current business figures. The plant, which the partners had begun building in 2014, was in the black for the second consecutive quarter.
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First carmakers announce closures of factories in Europe due to the Coronavirus crisis unfolding on the continent. PSA will lockdown all vehicle production plants in Europe by 27 March and the French carmaker is not the only one.
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Tesla reportedly wants to set up a pilot production line for its own battery cells at their Fremont factory. In addition, the Californian company recently acquired Hibar – a company specializing in the manufacture of production equipment for battery cells.
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The planned battery joint venture between Toyota and Panasonic will be called Prime Planet Energy & Solutions. According to Panasonic, the JV, in which Toyota will hold 51% and Panasonic 49%, is to be established on 1 April 2020.
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According to CEO Kazuhiro Tsuga, Panasonic is not currently planning a new battery cell factory for Tesla in China. Officially, however, it remains open whether Tesla will rely on another manufacturer for the Shanghai plant or imported battery cells from Gigafactory 1.
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Toyota is using Tesla-like Panasonic batteries for its plug-in hybrids in China, meaning cylindrical cells. Still, the batteries are said to differ from Tesla’s, at least in their composition.
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Jeff Dahn and his team, who carry out battery research for Tesla, have published test results for a new battery cell that could have a life of 1 million miles (1.6 million km) and thus be suitable for Tesla’s planned robo taxis. At the same time, Tesla battery cell manufacturing appears to be well underway.
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It appears the rumours were true: Tesla will buy batteries from LG Chem for its electric car production in China. Media agencies cite inside sources confirming the deal that would affect both the Model 3 and future Model Y.
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The Toyota subsidiary Primearth EV Energy, which is also partly owned by Panasonic, is planning to build a fourth factory in China.
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During the telephone conference to announce the latest quarterly figures, Elon Musk also commented on the rumours that Tesla intends to produce its own battery cells in the future: There seem to be delays.
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After the Annual General Meeting in mid-June, there were rumours that Tesla is going to manufacture its own battery cells using the technology acquired through the takeover of Maxwell. Now insiders are describing the existence of some kind of secret battery laboratory.
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Panasonic, in cooperation with SmartE and qQuick, has launched a new EV charging network for India named Nymbus. In the first phase, Panasonic will deploy the service on 150 SmartE electric three-wheelers and on 25 qQuick two-wheelers in the Delhi-NCR region.
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This year, Panasonic could upgrade one of its battery factories in domestic Japan to produce not only the 18650 battery cells for the Tesla Model S and Model X, but also the newer 2170 cells for the Model 3.
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After the latest report that Panasonic and Tesla have halted their plans to expand production capacity for battery cells in Gigafactory 1, Elon Musk has partly contradicted Panasonic’s view of the matter.
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Nikkei suggested yesterday, that Panasonic and Tesla’s plans to increase production capacity for battery cells at Gigafactory 1 have been put on ice due to financial problems at Tesla and uncertainties about future demand. While us and others could but wonder, Panasonic now took a stand that is ambivalent.
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Honda’s first all-electric model for the European market is taking shape. Following the presentation of the Urban EV concept car at the IAA 2017, a near-serial version of the battery electric vehicle will be presented at the Geneva Motor Show coming Tuesday, 5 March.
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Panasonic has lowered its forecast for the 2018/19 fiscal year, which ends in March, following a decline in profits over the winter. However, the Energy division, which also includes the battery business with Tesla, recorded its first operating profit in three quarters at 131 million euros.
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The Japanese car and battery manufacturers Toyota, Honda and Panasonic allegedly plan to jointly procure cobalt for electric car batteries. A joint venture is expected to be established in about one year.
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After Toyota and Panasonic first announced plans a year ago to extend their partnership to the development of new EV batteries with improved prismatic cells, the cornerstones of the future joint venture have now become public.
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