Panasonic's 18650 Lithium-Ion Cell For Tesla Model S

Panasonic's 18650 Lithium-Ion Cell For Tesla Model S

Panasonic Corporation announced that on October 1 it established a new manufacturing company for lithium-ion batteries - the Panasonic Energy Corporation of North America in Sparks, Nevada.

It will be built in the Tesla Gigafactory and will produce and sell lithium-ion batteries.

The Japanese company believes that it will be able to achieve continuous reductions of battery costs.

"A new company, Panasonic Energy Corporation of North America will be built in 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 name Panasonic Energy Corporation of North America (ABBR:PENA)
Establishment Oct. 1, 2014
Location Sparks, Nevada, USA
Principal lines of business Production and sales of lithium-ion battery cells
Stated capital 5 million US dollars (Capital investor: Panasonic Corporation of North America)
Name and title of representative CEO: Masayuki Kitabayashi
Area of factory 555,000 square meters