Panasonic will continue to supply batteries to Tesla as new deal is signed

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Panasonic, which recently decided to end its solar cell production partnership with Tesla at Giga New York, has now signed a new deal with Tesla to manufacture and supply lithium-ion battery cells at Giga Nevada.

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The new deal comes after news last month that the two companies were in talks to increase battery cell production in the Nevada plant.

In a disclosure filed by Tesla and reported by Reuters, the new deal was effective April 1, 2020. According to the terms of the deal, Panasonic will have battery production commitments, while Tesla will have purchase volume commitments for the first two years of the agreement.

After announcing new partnerships with CATL and LG Chem earlier this year, Panasonic is no longer Tesla’s exclusive battery supplier.

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