- A Tesla sportscar on display in a Tokyo showroom
Panasonic Corp. will acquire a small stake in Tesla Motors Inc. and jointly develop electric-vehicle batteries with the U.S. EV maker. The Japanese electronics giant's share purchase will likely be smaller than Toyota Motor Corp.'s 50 million dollar investment in Tesla, resulting in a several percent interest in the U.S. firm.
Panasonic signed an agreement in January to supply lithium ion batteries for Tesla's electric cars. Strengthening its ties with the U.S. partner further, Panasonic aims to work with Tesla to develop battery systems for next-generation EVs.
Along with Sanyo Electric Co. the Panasonic group is the world's No. 1 lithium ion battery maker, commanding a global market share of around 30%.
Sanyo is a major player in the field of large batteries for electric and hybrid vehicles developed by the major automakers. By contrast, Panasonic is focusing on vehicle systems using small general-purpose batteries.
Panasonic and Tesla will likely work together to develop technologies for utilizing such battery systems efficiently, since Tesla's electric cars are powered by several thousand cylindrical-shaped lithium ion batteries, which are typically found in personal computers.
The U.S. EV specialist has already been selling its Roadster and other vehicles in Japan. The company and Toyota are currently developing a new EV based on a sport utility vehicle.
Panasonic will likely announce the capital tie-up with Tesla as early as Thursday.
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