BendiNewsTest: Tesla Motors and Panasonic Sign $200–300 Million Deal to Build the First Gigafactory

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Thursday, July 31, 2014

Tesla Motors and Panasonic Sign $200–300 Million Deal to Build the First Gigafactory

It’s happening! After much speculation, Panasonic Corporation and Tesla Motors have struck a formal agreement over the Japanese company’s manufacture and supply of lithium-ion batteries for the electric vehicle (EV) manufacturer’s first Gigafactory. Under the terms of the deal, Panasonic will make initial investments of between $200–300 million, with eventual investment reaching around $1 billion of the anticipated $5 billion cost of the project.

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