Tesla Signs Huge Deal with Panasonic for Gigafactory Machinery

By: | August 5th, 2014

Reports claim Tesla has come to an agreement with Panasonic worth between $194 – $291 million in order to stock the machinery in Tesla’s first Gigafactory.

It is estimated that the overall investment could reach upwards of $5 billion before it’s all said and done.

With Tesla looking to double the world’s supply of lithium ion batteries by 2020, this was certainly a major step in the right direction.

Barring any setbacks, Tesla hopes to start building the inaugural Gigafactory by the end of this year.

Michael Cooney

Michael Cooney, the founder of EngNet, worked as a project engineer for many years sourcing equipment. His passion and experience in the industry led to creating EngNet to connect engineers and industry suppliers. You can also find Michael on .

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