Tesla Inks Battery Agreement With Panasonic
Revisiting a partnership which originated in 2014, Tesla (NASDAQ: TSLA) revealed in a regulatory filing yesterday that it and Panasonic Corporation (OTC: PCRFY) "entered into an amendment and restatement" of the general terms and conditions of their agreement relating to Panasonic's manufacturing of lithium-ion battery cells for Tesla at its Gigafactory in Nevada. According to the revision, the agreement will expire 10 years "after Panasonic achieves certain manufacturing milestones."
In addition, Tesla revealed that it had entered into a pricing agreement with Panasonic lasting through March 2023 related to Panasonic's manufacturing of lithium-ion battery cells at the Gigafactory. Included in the terms of the agreement are production commitments for Panasonic and purchase volume commitments for Tesla over the next two years.
Image source: Tesla.
Source Fool.com
