Connect with us

News

Panasonic and Tesla Reach Agreement to Expand Supply of Automotive-Grade Battery Cells

Published

on

Tesla-Panasonic-Powered

Panasonic will expand its existing production of lithium-ion battery cells by 2 billion over the next four years to cover the increased demand from Tesla Motors.  Sourced from the Tesla Motors Press Release:

OSAKA, Japan / PALO ALTO, Calif. — Panasonic Corporation and Tesla Motors today announced that the two companies have reached an agreement in which Panasonic will expand its supply of automotive-grade lithium-ion battery cells to Tesla. With this agreement, the two companies update and expand their 2011 arrangement to now supply nearly 2 billion cells over the course of four years. The lithium-ion battery cells purchased from Panasonic will be used to power the award winning Model S as well as Model X, a performance utility vehicle that is scheduled to go into production by the end of 2014.

This agreement builds upon a multi-year collaboration between Panasonic and Tesla to develop next-generation automotive-grade battery cells and accelerate the market expansion of electric vehicles. Panasonic’s cells combined with Tesla’s proven EV battery expertise have already enabled more than 130 million customer miles driven in Tesla Roadsters and Model S.

“This expanded agreement with Panasonic is important to Tesla as we continue to increase the pace of production,” said Tesla Co-Founder and CEO Elon Musk. “We look forward to strengthening our relationship with Panasonic, and I’m confident that this partnership will continue to be an integral part of Tesla’s success for years to come.”

Together, Panasonic and Tesla have developed a next-generation battery cell technology that provides the highest energy density and best performance cells in the market. Panasonic’s cylindrical cell is a customized technology designed specifically for optimizing electric vehicle quality and life. These cells are integrated by Tesla into the battery pack in a way that enables an industry-leading range of approximately 265 miles for the Model S.

Advertisement

“We are extremely proud to be a strategic partner of Tesla,” said Yoshihiko Yamada, president of the Automotive & Industrial Systems Company, an internal company of Panasonic. “Panasonic will increase its production capacity of lithium-ion battery cells to supply Tesla’s growing needs as it expands its production of EVs.”

ABOUT PANASONIC

Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates over 500 consolidated companies worldwide, recording consolidated net sales of 7.30 trillion yen for the year ended March 31, 2013. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers. For more information about Panasonic, please visit the company’s website at panasonic.net

ABOUT TESLA

Tesla Motors’ (NASDAQ: TSLA) goal is to accelerate the world’s transition to electric mobility with a full range of increasingly affordable electric cars. California-based Tesla designs and manufactures EVs, as well as EV powertrain components for industry partners. Tesla has delivered over 15,000 electric vehicles to customers in 31 countries.

Image Source: SmallCameraBigPicture.com

Advertisement
Advertisement
Comments

Elon Musk

Elon Musk hits back at former Tesla employee who disagrees with pay package

Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla?

It won’t be me.

Published

on

elon musk speaking
Credit: TED

Elon Musk gave a tough response to a former Tesla employee who spoke out on X about the structure of the CEO’s pay package, arguing that it is an overpayment and would not generate enough shareholder value.

Without a doubt, the biggest issue on the bill at this year’s Tesla Shareholder Meeting in November is that of the pay package that was proposed to CEO Elon Musk.

As the Shareholder Meeting approaches, Tesla is urging those investors to vote in support of Musk’s pay package. So far, the community has been overwhelmingly supportive of giving Musk his massive payday, which could give him $1 trillion in additional holdings if he completes each of the outlined performance tranches.

However, there are a handful of institutional and individual shareholders who have pushed back against the package, either because of its value or because they feel it does not benefit shareholders enough.

Last week, we reported that Institutional Shareholder Services (ISS) advised voting against Tesla’s pay package for Musk. The firm said the payday would give Musk”extraordinarily high pay opportunities over the next ten years,” and it would “reduce the board’s ability to meaningfully adjust future pay levels.”

Advertisement

Tesla CEO Elon Musk’s $1 trillion pay package hits first adversity from proxy firm

Additionally, it called the value of the pay package “astronomical.”

On Saturday, a former Tesla employee said on X that Tesla’s proposed pay package for Musk would “barely beat inflation and it would underperform the S&P 500 considerably.” Additionally, he said:

“Sorry, Tesla, some of us (and supposedly, ISS too) simply don’t think that underperforming the S&P 500 this much is worth paying somebody 20 billion dollars worth of company value.

As a fan, I love Tesla, I want it to succeed. As a shareholder, I don’t want Tesla to over-pay for its CEO I strongly believe that the 2025 pay package proposal would over-pay for its CEO, and that other competent CEOs could grow Tesla just as much with way less political drama and cost investors much less that this proposal.”

Advertisement

Musk responded bluntly:

“Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla? It won’t be me.”

Advertisement

It seems the worry about Musk’s potential involvement in politics still looms to many, based on the responses to Musk’s post, which frequently mention that as a downside of his last year as Tesla CEO. However, Tesla’s Board confronted that directly.

In its proxy filing after announcing the pay package, Tesla said that it had three commitments, one of which was that the company would “receive assurances that Musk’s involvement with the political sphere would wind down in a timely manner.”

Tesla Board takes firm stance on Elon Musk’s political involvement in pay package proxy

Musk’s previous pay package was approved by shareholders twice, but it never made it to the CEO because of a lawsuit with the Delaware Chancery Court brought forth by a small-time shareholder.

The response from Musk does seem to show that if this time is no different, he will inevitably step down as CEO in the coming years.

Advertisement
Continue Reading

News

Tesla rivals are lagging behind alarmingly in this crucial EV necessity

Published

on

tesla supercharger
Credit: Tesla

Tesla rivals are lagging behind the company in alarming fashion in this crucial EV necessity: charging.

Tesla has had a long-standing reputation for having the most expansive electric vehicle charging infrastructure, and even as other companies have launched their own as part of the vehicle manufacturing, nobody seems to keep pace with the EV leader.

A report from Paren exhibited this trend in Q3, showing that Tesla overwhelmingly dominated EV charging stall installations over the past three months. This data is based on U.S. installations, where Tesla has long held a dominating position as the leader in overall electric vehicle sales for many years.

In Q3, Tesla installed 1,820 new chargers in the United States, bringing its total presence to 34,328, an all-time market share of 53.2 percent of all charging stalls in the country.

What’s alarming is the fact that all other networks — ChargePoint, Red E, Electrify America, EV Connect, EVgo, Ionna, Blink, Pilot Flying J, and Rivian Adventure — only installed 841 chargers collectively in Q3. That is nearly 1,000 units behind Tesla, despite there being nine companies contributing as competitors.

Advertisement

These nine networks have 10,055 stalls in total, the data from Paren shows, accounting for 15.6 percent of the chargers in the United States.

EV charging is such a crucial part of the ownership experience, and also a part of the ongoing expansion of EV adoption in the United States.

As more people buy EVs and they become a more prominent form of passenger transportation, more chargers are needed. Many owners charge at home, but charging options in public are important to have for traveling, commuting, and for those who do not have access to residential charging.

Advertisement

Tesla ownership without home charging: Here’s how it’s done

With Tesla opening its Supercharger Network to the majority of EV brands over the past two years, things have gotten better.

It has been alarming to see so many companies involved in EV infrastructure essentially accept the gap between Tesla and themselves; not a single company has tried to up its pace to catch up to what Tesla has.

When it comes down to it, as long as there is charging, the manufacturer does not truly matter.

However, it would be nice to see Tesla have some competition in the space, but with its domination and head start in the infrastructure division, it seems the company will have this competitive advantage for years to come.

Advertisement
Continue Reading

News

Tesla updates fans on its plans for the Roadster

Earlier in 2025, Musk said Tesla would host the “most epic demo” for the Roadster in late 2025. We’re in Q4, so time is running out, but we finally got the update we’ve been waiting for from von Holzhausen on the Ride the Lightning podcast yesterday.

Published

on

Tesla Roadster and Semi at Tesla Battery Day 2020 Credit: @GuyTesla | Twitter

Tesla has finally updated fans on its plans for the Roadster after stating earlier this year it would host the “most epic demo,” showcasing the vehicle’s capabilities.

The Roadster is amongst the most highly anticipated automotive releases in the entire industry, and was set for release in 2020 initially. However, Tesla got so caught up with scaling up the Model Y and focusing on autonomy that the project took a figurative backseat.

Elon Musk teases Tesla’s “most epic demo” by end of year

In the years since its planned release, we have not seen much of the vehicle. Company executives like Elon Musk and Chief Designer Franz von Holzhausen have hinted at things about it and teased us with potential release dates, but each time, it has been delayed.

Last year, Tesla planned to show something, but Musk saw what improvements had been made from the original design unveiled back in 2017 and figured the company could go a step further, only delaying the project another year.

Advertisement

But what’s another year, right?

Earlier in 2025, Musk said Tesla would host the “most epic demo” for the Roadster in late 2025. We’re in Q4, so time is running out, but we finally got the update we’ve been waiting for from von Holzhausen on the Ride the Lightning podcast yesterday.

Confirming the demo was still on for this year, he also teased some new features that the Roadster will have, like new paint options.

Von Holzhausen said:

“I’m excited to showcase the Roadster for a lot of different reasons. The wait will be worth it.”

Advertisement

Additionally, he said the capabilities of the Roadster are truly something, and they have gotten the vehicle to a point that it seems to test the “limits of physics.” Franz added that Tesla has “really gotten to a point where we are going to be achieving that standard that we set out.”

Obviously, the Roadster is not a major contributor to Tesla’s mission or to its future, which mostly leans on artificial intelligence and Robotaxi or autonomy. However, it is still a product that Tesla needs to offer, as many have put massive $250,000 downpayments on the vehicle in an attempt to purchase one.

Tesla has not yet announced a date for its demo of the Roadster, but based on Franz’s interview, it seems the company is still on track to hold that by the end of the year.

The full episode with Franz von Holzhausen on the Ride the Lightning podcast is available here.

Advertisement
Continue Reading

Trending