Wednesday, October 30, 2013

Tesla and Panasonic Enter Deal to Boost Battery Production - Speakeasy - WSJ

Tesla and Panasonic Enter Deal to Boost Battery Production - Speakeasy - WSJ
Electric-car maker Tesla Motors Inc. said it entered an agreement with electronics giant Panasonic Corp. to boost the supply of lithium-ion batteries to meet the increased production of Tesla’s current and coming vehicles.
Tesla said Panasonic’s cylindrical battery cells, which it designed specifically for high performance and long life under the demands of electric vehicles, are a critical element in the 265-mile range of its Model S sedan.

Concerns about the availability, performance and longevity of batteries have kept many consumers from considering electric cars. Expanded production resulting from the deal between Tesla and Panasonic could help accelerate mainstream acceptance of electric cars.
Hope the cheaper model EV will hit the market soon.

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