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1/4, 1:32 PM (Source: TeleTrader)
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Tesla, Panasonic reach new battery supply deal

Tesla, Inc. signed a new "2021 Pricing Agreement" with Japanese electronics company Panasonic Corporation on lithium-ion battery cells supply, the California-based electric vehicle manufacturer said in a filing on Monday.

The deal will be effective from October 1, 2020, until March 31, 2022, Tesla noted without disclosing further details of the agreement.

Previously, the two companies, who have been cooperating for more than ten years now, sealed the deal to supply lithium-ion batteries to Tesla's Gigafactory in Nevada.

Breaking the News / GA