Panasonic May Gain $7 Billion Sales From Tesla Contract
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Panasonic Corp. won a contract to supply cells to Tesla Motors Inc.’s electric vehicles in a deal that may generate $7 billion in revenue.
The biggest supplier of lithium-ion batteries used in electric cars will supply 2 billion lithium-ion battery cells to the Palo Alto, California-based automaker in the four years through 2017, the Osaka-based company said in a statement yesterday. That compares with about 200 million units shipped for Tesla in the past two years, according to Chieko Gyobu, a Panasonic spokeswoman.