Tesla Inks Deal With Panasonic to Meet Order Demand

Agreement will help electric car-maker build 80,000 cars over the next four years

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    NEWSLETTERS

    TK
    Tesla has a new deal with Panasonic to provide batteries for its Model S EV car.

    Tesla has renewed an agreement with Panasonic to provide batteries for its electric vehicles.

    The deal will help the Palo Alto-based electric car-maker meet an increased demand for its cars.

    The new agreement will provide Tesla with lithium-ion batteries for the production of about 80,000 cars over the next four years.

    The batteries will be made using Panasonic's nickel-type cathode technology.

    Tesla has 6,000 orders for its Model S EV for 2012.