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This fall, hundreds of Panasonic Corp. employees will be dispatched to the gigafactory of Tesla Motors in Nevada to prepare to produce lithium ion batteries for electric cars starting in 2016. The deal between Panasonic and Tesla is a key aspect of massive restructuring in the past few years to cut losses caused by cheaper Asian counterparts.
Panasonic has let go of non-profitable products such as plasma TVs and smartphones. Instead, it has turned its focus on energy-saving home systems. This year alone, it has invested almost $500 million towards its auto-related segment. At a briefing held recently, Yoshio Ito, head of Panasonic's automotive and industrial systems division, said that “hundreds” of workers will be needed initially.
Ito said that for its automotive business, Panasonic intends to invest about 60 billion yen ($478 million) in the current fiscal year through March. The gigafactory is included in this estimate. Tesla predicts that the cost of this plant will go up to about $5 billion, with Panasonic to provide about 30 to 40% of the investment in a plant that is needed in Tesla’s plan to boost sales.Read the entire article Hundreds of Panasonic workers to do prep at Tesla’s gigafactory this fall
Tesla Motors Inc. and Panasonic Corp. have reached an agreement to collaborate on the construction and operation of company’s gigafactory in the United States. Under the plan, Tesla will provide and manage the land and buildings while Panasonic will outfit the site with machinery and take charge of the production of lithium-ion battery cells.
In a statement, the companies said the gigafactory is aimed at cutting the cost of long-range battery packs in parallel with production at volumes required to asllow Tesla meet its goal of making mass market EVs.
The partners have yet to finalize certain details like sales and investment. Tesla will take Panasonic’s gigafactory cells and then assemble battery modules and packs for its EVs, including the new Model 3 sedan that will have a starting price just half of the Model S.Read the entire article Tesla and Panasonic ink deal to collaborate on gigafactory
Panasonic Corp. has yet to commit to investing in the "Gigafactory" battery project in the United States as proposed by Tesla Motor Inc.’s Elon Musk since it would raise investment risks, according to Panasonic President Kazuhiro Tsuga. Panasonic is Tesla’s 's primary supplier of lithium ion cells for its electric Model S sedans.
Tesla disclosed plans for the Gigafactory in February and is reviewing possible locations sites in four southwestern US states. According to Tesla, the battery plant may need up to $5 billion to build and employ about 6,500 people by 2020. Musk has remarked that Panasonic may be involved in the factory, but said the battery maker’s participation is "not 100 percent confirmed."
Craig Irwin, an analyst for Wedbush Securities Inc., wrote in a note this week that having Panasonic as a joint venture partner would facilitate Tesla’s strategic access to the Japanese company’s supply chain, and reduce risks. Texas, Arizona, New Mexico and Nevada -- the four states that Tesla identified as potential locations -- have commenced lobbying efforts to secure the site.Read the entire article Panasonic is not yet committed to Tesla Gigafactory
For those who don’t know, Panasonic is one of the biggest supplier of lithium ion batteries used in electric cars. Well, it appears that the company is set to became even bigger as it just won a four-year contract to supply cells to Tesla for its Model S and Model X electric cars, a deal that may generate around $7 billion.
In this deal, Panasonic will supply 2 billion lithium-ion battery cells to Tesla through 2017. A big number if we take a look that the 200 million units that the Japanese company shipped for Tesla in the past two years.
The new Tesla Model X crossover will arrive in late 2014, but until then Tesla plans to sell 21,000 this year. Next year, the company expects to sell around 10,000 units only in Germany. In the Netherlands the Tesla Model S surpassed the Volkswagen Golf.Read the entire article Panasonic gets a four-year contract to supply Tesla with lithium-ion batteries
Panasonic Corp. is planning to hike the capacity for its lithium ion battery output in 2014 for both hybrid and electric vehicles. The battery maker will increase capacity at its three plants in Japan. The capacity hike will entail adding a fourth line at Panasonic’s Kasai plant in Hyogo prefecture, which produces prismatic lithium ion batteries for Toyota Motor Corp., Ford Motor Co. and Audi AG.
The capacity hike will also entail the addition of a production line at its Sominoe plant in Osaka, which makes cylindrical lithium ion batteries for Tesla Motors Inc. and batteries for personal computers.
The hike will likewise entail commencement of cylindrical battery production for cars at its Kaizuka plant in Osaka. Panasonic’s production ramp-up move came amid complaints from Tesla chief executive Elon Musk that logjams in battery supply are affecting sales of the Model S. Although Panasonic is the sole battery supplier for the Model S, Tesla is holding discussions with Samsung SDI.Read the entire article Panasonic is increasing lithium ion battery capacity in 2014
A federal grand jury in Detroit has indicted Panasonic Corp. executive Shinichi Kotani for his involvement in an international pricing-fixing conspiracy. Kotani is accused of taking part in price fixing of switches and steering angles sensors for Toyota Motor Corp. vehicles sold in the United States. The indictment alleges that Kotani and co-conspirators took part in big-rigging meetings in the US and Japan from January 2004 until February 2010.
Kotani was also vice president of automotive systems from April 2008 until July 2009 for Panasonic Automotive Systems Co. of America located in Peachtree, Ga. Panasonic also has an automotive technical center in suburban Detroit.
Once found guilty, Kotani could be subjected to a maximum penalty of 10 years in prison as well as $1 million in fines for violating the Sherman Act. The indictment is part of a wide ongoing investigation in US into supplier price fixing. It is also the second indictment in Detroit in the past week. Regulators in Europe and Japan have been conducting similar probe.Read the entire article Panasonic executive, Shinichi Kotani, was indicted on pricing-fixing charge
Panasonic Corp. agreed to plead guilty to price-fixing allegations involving auto components sold to Honda, Mazda, Nissan and Toyota, the United States Department of Justice has disclosed. The company agreed to plead guilty to price-fixing on turn, wiper and other switches and steering angle sensors sold to Toyota Motor Corp., and high intensity discharge ballasts sold to Honda Motor Co., Mazda Motor Corp. and Nissan Motor Co.
Panasonic also agreed to plead guilty to three felony counts with regards with the conspiracy. According to the Justice Department, Panasonic agreed to pay around $45.8 million in criminal fine. In a related matter, Panasonic units Sanyo Electric Co. and LG Chem Ltd pleaded guilty to fixing prices of cylindrical lithium ion battery cells used in notebook computers, the department said.
Facing one count of price-fixing, Panasonic Sanyo agreed to pay $10.7 million while LG Chem nodded to pay $1.1 million. The charges were the first in a battery cell probe. Ten other companies have pleaded guilty or agreed to plead guilty in the auto parts probe.Read the entire article Panasonic nods to guilty plea on price-fixing charges
Panasonic Corp. purchased a small stake in Tesla Motors Inc. and has plans for the joint development of electric-vehicle batteries, according to a report from the Nikkei business daily. The Japanese electronics maker had inked a deal in January to provide lithium ion batteries for Tesla's electric cars.
Panasonic is hoping to work with Tesla to develop battery systems for next-generation electric vehicles. According to the manufacturer, Panasonic purchased Tesla common stock in a private placement at a price of $21.15 per share.
The investment builds upon a multi-year collaboration of the two companies to accelerate the market expansion of the electric vehicle.
The Nikkei said that Panasonic and Tesla are expected to efficiently develop technologies for using lithium ion battery systems since Tesla's electric cars are equipped with several thousand cylindrical-shaped lithium ion batteries.Read the entire article Panasonic has invested $30 million in Tesla
Tesla has been trying to keep the information under wraps but it was recently leaked that Japanese electronics company Panasonic will supply the batteries for the upcoming Model S sedan. With regards to the current battery supplier for its Roadster model however, there isn´t much information out there except that the supplier is Japanese.
Tesla presently builds a Roadster model that uses lithium-ion laptop batteries wired together to create one big battery capable of propelling the Roadster for around 250 miles.
No information on the battery supplier is known, other than that the company is Japanese. Tesla has retained Panasonic for the second model, the Model S. As we´ve said, the available information is far from complete.Read the entire article Panasonic will supply the batteries for the upcoming Tesla Model S
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