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

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