Panasonic Invests $30 Million Into Tesla Motors For 2% Stake

Posted Nov 4, 2010

Panasonic has invested $30 million into Tesla Motors and will receive a 2% stake in the electric car company. This investment was sent to Tesla about a week after the grand opening of Tesla’s factory. Tesla has been using Panasonic cells for their Tesla Roadster battery packs.

Going forward, Panasonic will be the preferred supplier of battery cells. ?It is an honor and a powerful endorsement of our technology that Panasonic, the world?s leading battery cell manufacturer, would choose to invest in and partner with Tesla,? stated Tesla Motors CEO Elon Musk. ?Panasonic offers the highest energy-density cells and industry-leading performance with cutting edge nickel-type cathode technology. We believe our partnership with them will enable us to further improve our battery pack while reducing cost.?