Electric car company Tesla Motors is teaming up with Panasonic (6752.T) to acquire batteries for its current and future vehicles.
Tesla will use Panasonic’s battery cells in their newest battery packs. The cells are comprised of Nickel-based Lithium ion chemistry. Tesla previously used lithium-cobalt batteries, which are considered a less-stable chemistry, capable of runaway overheating.
“Our collaboration with Panasonic will accelerate the development of next generation EV cells, enabling Tesla to further improve our battery pack performance,” said JB Straubel, Tesla’s Chief Technology Officer. “Combining Tesla’s rigorous cell testing and understanding of EV requirements with Panasonic’s cutting-edge battery technology will result in custom cells optimized for use in EVs.”
Panasonic is one of the world’s largest producers of Lithium-ion battery cells. Furthermore, Panasonic is the global leader in lithium-ion cell technology, and is midway through a 3-year USD$1 billion investment in lithium-ion battery cell R&D and production facilities. The first of the new facilities in Suminoe, Japan will begin production in April 2010.
Tesla’s current battery strategy incorporates proprietary packaging using cells from multiple battery suppliers. This new cell will also be compatible with other cell form factors to enable the continuation of Tesla’s strategy of using cells from multiple suppliers. Tesla has already delivered more than 900 cars to customers in North America and Europe.
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