Tesla, Panasonic in ‘gigafactory’ agreement
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AMERICAN electric car manufacturer Tesla Motors is teaming up with Japanese electronics company Panasonic to build a battery plant in the US expected to create 6,500 jobs.
The companies announced the deal yesterday, but they did not say where in the US the so-called “gigafactory,” or large-scale plant, will be built.
The plant will produce cells, modules and packs for Tesla’s electric vehicles and for the stationary energy storage market, employing 6,500 people by 2020. Under the agreement, Tesla, based in Palo Alto, California, will prepare, provide and manage the land and buildings, while Osaka-based Panasonic will manufacture and supply the lithium-ion battery cells and invest in equipment.
The companies said the project will cut costs to meet mass production needs for electric vehicle batteries.
“The gigafactory represents a fundamental change in the way large-scale battery production can be realized,” said Tesla Chief Technical Officer and co-founder JB Straubel, referring to the cost reductions.
Tesla is among the most successful EV makers in the world along with Nissan Motor of Japan. Sales of such cars account for less than 1 percent of the global auto market at present.
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