Feeds

Tesla scores $30m investment

Panasonic gets slice of 'leccy car maker

Build a business case: developing custom apps

Panasonic Corporation is paying $30m for a two per cent stake in electric car maker Tesla.

handshake for Tesla Panasonic deal

The deal deepens an existing relationship; Panasonic supplies the lithium-ion batteries upon which the Lotus-based car depends. But Tesla had also used batteries from other manufacturers and now Panasonic becomes preferred supplier.

Tesla CEO and co-founder Elon Musk said: "Panasonic offers the highest energy-density cells and industry-leading performance with cutting edge Nickel-type cathode technology. We believe our partnership with them will enable us to further improve our battery pack while reducing cost."

Naoto Noguchi, president of Panasonic's energy division, said the deal would help achieve Panasonic's goal of becoming "number one Green Innovation Company by 2018".

As well as making its own cars based on Lotus bodies, Tesla also hopes to sell powertrains and battery packs to other 'leccy car makers. Tesla and Panasonic will look at joint sales and marketing activities around this business. ®

Securing Web Applications Made Simple and Scalable

More from The Register

next story
World Solar Challenge contender claims new speed record
One charge sees Sunswift travel 500kms at over 100 km/h
SMELL YOU LATER, LOSERS – Dumbo tells rats, dogs... humans
Junk in the trunk? That's what people have
The Sun took a day off last week and made NO sunspots
Someone needs to get that lazy star cooking again before things get cold around here
Boffins discuss AI space program at hush-hush IARPA confab
IBM, MIT, plenty of others invited to fill Uncle Sam's spy toolchest, but where's Google?
Bad back? Show some spine and stop popping paracetamol
Study finds common pain-killer doesn't reduce pain or shorten recovery
Forty-five years ago: FOOTPRINTS FOUND ON MOON
NASA won't be back any time soon, sadly
Jurassic squawk: Dinos were Earth's early FEATHERED friends
Boffins research: Ancient dinos may all have had 'potential' fluff
MARS NEEDS OCEANS to support life - and so do exoplanets
Just being in the Goldilocks zone doesn't mean there'll be anyone to eat the porridge
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.