According to Tesla, the agreement, which came into effect retroactively on April 1, also includes „planned investments and new technologies.” Tesla Motors email@example.com Tel: 1650-833 8456 Companies did not provide financial details, location or other terms of the agreement. On June 10, 2020, Tesla, Inc. and Tesla Motors Netherlands B.V. (together „Tesla”) and Panasonic Corporation and Panasonic Corporation of North America (together „Panasonic”) amended and repositioned (the „2020 GTC”) terms and conditions between Tesla and Panasonic on October 1, 2014, modified, the specific agreements for Panasonic for the production of lithium-ion batteries for Tesla near The proximity of the CGV 2020 changes, among other things, the lifespan that expires ten years after the arrival of some manufacturing bricks by Panasonic. Signed on June 10 and announced by Tesla on Tuesday, the agreement sets pricing conditions and requires the U.S. company to purchase a certain amount of batteries from Panasonic in exchange for fulfilling production capacity obligations in the first two years of the contract period. Under the agreement, Tesla will prepare, supply and manage land, buildings and utilities. Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in associated devices, machines and other manufacturing tools based on their mutual consent. A network of supplier partners is planned to manufacture the necessary precursor materials. Tesla will take cells and other components to assemble modules and battery packs.
To meet the expected demand for cells, Tesla will continue to purchase batteries produced at Panasonic`s plants in Japan. Tesla and Panasonic will continue to discuss implementation details, including distribution, operations and investments. Of course, we don`t have the details of the deal, but if I was speculating, I guess Panasonic has agreed to increase its investments in the Nevada Gigafactory in order to increase the volume and produce new batteries developed with Tesla.