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Panasonic invests $30 million in Tesla Motors

Panasonic wants to play more with electric cars.

Nov 4 2010, 1:55am CDT | by

Panasonic invests $30 million in Tesla Motors
 
 

Panasonic announced an investment into Tesla Motors. Panasonic has invested $30 million in the electric car maker. The investment was made through the purchase of Tesla common stock in a private placement at a price of $21.15 per share.

Tesla currently uses Panasonic battery cells in its advanced battery packs and has collaborated with Panasonic on the development of next-generation battery cells designed specifically for electric vehicles.

“Panasonic aims to be the number one Green Innovation Company in the Electronics Industry by 2018, the 100th anniversary of our founding,” said Naoto Noguchi, President of Energy Company, a unit of Panasonic responsible for the battery cell business. “Our sophisticated lithium-ion battery cell technology, combined with Tesla’s market-leading EV powertrain technology, helps us fulfill this goal by promoting sustainable mobility. We are proud to strengthen our relationship with Tesla Motors.”

Batteries for electric cars could become the oil business of the future. Electric cars are seen as the future of transportation. The big unsolved problem for me is still the source of all the energy we will then need when everybody drives around in electric cars. Yesterday we featured a report about more unsolved issues around electric cars. Until electric cars like the Tesla Roadster are more expensive than a Porsche I do not see a shortage of electric energy arising soon. We still have a couple decades to figure it out.

Tesla Motors managed to place a successful IPO in June. It is still trading above the initial share price.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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