While Panasonic is probably most famous for its TVs, the company is also a leading manufacturer of battery cells for electronics. In his December conversation with Bloomberg, Ohtsubo said that Panasonic planned to expand its interests in lithium ion batteries for cars, as well as solar panels, smart appliances, and home energy monitoring systems.
"Combining Tesla's rigorous cell testing and understanding of EV requirements with Panasonic's cutting-edge battery technology will result in custom cells optimized for use in EVs," JB Straubel, Tesla's chief technology officer, said in a statement.
It seems that when Panasonic President Fumio Ohtsubo said in December that his company would invest $1 billion in green technologies for the home, he may already have had a deal in the works for the garage.
Panasonic also announced Thursday that it's halfway through a 3-year project to overhaul its lithium-ion battery cell research and production facilities companywide, including a completely new plant scheduled to open in Suminoe, Japan, in April. The company said the entire overhaul represents about a $1 billion investment.
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