Date: 10/10/2011

Panasonics to supply lithium-ion batteries to electric automaker Tesla

Panasonic Corporation and Tesla Motors have finalized a supply agreement for automotive-grade lithium-ion battery cells for Tesla's premium electric sedan, Model S.

"It is a powerful endorsement of our technology that Panasonic, the world's leading battery cell manufacturer, has chosen to partner with Tesla to advance electric vehicle performance and value," said Tesla Co-Founder and CEO Elon Musk. "Incorporating Panasonic's next-generation cells into Model S batteries will ensure unrivaled range and performance. We are very grateful for our strong partnership with Panasonic."

"Panasonic will supply lithium-ion cells for EVs that can achieve longer range with large energy density. It is our pleasure to start supplying the cells for Tesla's Model S and promote sustainable mobility," said Masato Ito, President, Energy Company of Panasonic Corporation.