Since the last decade, there have been numerous alliances between several companies in the hope of creating power cells for electric vehicles and other technology developers. TSLA (tesla stock) was trying hard to incorporate the time-saving batteries to increase the charging speed and hence they have found it. Initially, in 2009, Panasonic and Tesla came together to sign a treaty for the supply of lithium-ion battery cells. Later with the investment of 30 million dollars by Panasonic, both the companies decided to work on the collaboration equally.
The Present
But suddenly, there was no news of the collaboration until 2020. They are using battery cells produced by Panasonic at Giga factory Nevada. At the beginning of 2020, Panasonic announced its partnership with Tesla for production of battery cells with an investment of $ 100 million in GigaFactory. Its production crafted at Giga will increase energy density by 5% and in total 10%.
The Expert Talk
Mikolajczak, the battery expert at Tesla, now working with Panasonic as Vice President in North America, did not elaborate much on the shipment process of cells to Tesla.
As per the latest updates, the battery cells will be produced for Model 3 and Model Y of Tesla. The main reason being its recent improvement which made people think that the faster-charging facility is provided within. Though the news is not confirmed yet as there hasn’t been any blog post, tweet anything about the new improved version of Tesla models.
250 kW is the highest Model 3 and Model Y get charged up to, but they say that is not sufficient to put up the desired charging speed. It would be a game twister if and only if the new battery cells optimized in Model 3 and Model Y would charge it up to 250kW at the 50% state of charge. This would help in saving up time at the stations which will eventually increase the quality of networking between station lines without having to expand the faster chargers.
The Next Step
The collaboration is not just limited to cells and batteries but will also wander around the manufacturing of solar photovoltaic technologies. Tesla’s Solar R&D team has tried to convince Panasonic to work on the solar city’s future project. A new long term agreement has been made wherein Panasonic will be looking at the capital costs for the new company.
The financial support provided by Panasonic is insane and has lasted really long. Hoping this collaboration will bring the best in both the companies. If you have interesting in the stock of Tesla, you can check its income statement at https://www.webull.com/income-statement/nasdaq-tsla before buying.