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Panasonic Establishes New Lithium-ion Battery Unit at Tesla Gigafactory

Tesla-Gigafactory-NevadaPanasonic Corporation announced that it has established a new manufacturing company of lithium-ion batteries, Panasonic Energy Corporation of North America in Sparks, Nevada, the United States on October 1, 2014.

Tesla and Panasonic have been working together in various collaborative projects toward the popularization and growth of electric vehicles since 2007. Panasonic and Tesla signed the agreement to build the Gigafactory in July.

The Panasonic Energy Corporation of North America will be built on 555,000 square meters at the Tesla Gigafactory, a large-scale battery manufacturing plant which has been discussed between Tesla and Panasonic, and will produce and sell lithium-ion batteries.

This new factory will enable a continuous reduction in the cost of long range battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass market electric vehicles. Through this cooperation, Panasonic will contribute to accelerate the expansion of the electric vehicle market.

Panasonic plans to continuously expand operations meeting with Tesla’s vehicle delivery schedule, driven by the progressive role out of new vehicles and across global markets.

Overview of New Company

Corporate namePanasonic Energy Corporation of North America
(ABBR:PENA)
EstablishmentOct. 1, 2014
LocationSparks, Nevada, USA
Principal lines of businessProduction and sales of lithium-ion battery cells
Stated capital5 million US dollars (Capital investor: Panasonic Corporation of North America)
Name and title of representativeCEO: Masayuki Kitabayashi
Area of factory555,000 square meters

 

Oct 19, 2014Blagojce Krivevski
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Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

October 19, 2014 Electric Car Newsgigafactory, panasonic, Panasonic Energy Corporation, tesla, tesla gigafactory, tesla motors
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