Panasonic May Generate $7B From Tesla Motors Inc (TSLA) Cell Deal
Tesla Motors Inc (NASDAQ:TSLA) may enable Panasonic to generate $7 billion in revenues from their supply cell deal. Panasonic is supplying Tesla with 2 billion lithium ion battery cells in the four years through 2017. This is compared to the 200 million units that Tesla received from Panasonic in the past two years.
Panasonic may move workers from their personal computer and mobile phone divisions to develop rechargeable batteries for cars and industrial design.
The Tesla Motors Inc (NASDAQ:TSLA) contract to supply Model S and Model X vehicles may add around $7 billion in sales and could make Panasonic the largest supplier for electric cars.
Tesla Motors Inc (NASDAQ:TSLA) is expected to sell 21,000 Model S sedans this year priced at between $70,000 to over $100,000. Tesla will be selling the Model X starting in late 2014.