Panasonic Investing "Tens Of Billions" Of Yen In Tesla Gigafactory

Cameron Aubernon
by Cameron Aubernon

Just how much will Panasonic throw down on the table when it comes time to invest in Tesla’s new Gigafactory near Reno, Nev.? According to CEO Kazuhiro Tsuga, “tens of billions” of yen.

Reuters reports Tsuga didn’t think the current exchange rate — which knocks his investment quote down to tens, if not hundreds, of millions of dollars — was “bad,” so long as the exchange remained stable.

As reported earlier this year, Panasonic wants the Gigafactory all to itself, investing in all levels of production at the upcoming plant. The battery producer also agreed to manufacture lithium ion cells for Tesla’s and other manufacturers’ battery packs as part of the overall investment deal.

Cameron Aubernon
Cameron Aubernon

Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.

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  • Chocolatedeath Chocolatedeath on Oct 13, 2014

    Wonder how much they spend on R&D every year? Dont know why all the battery OEMs dont just come together and create the next leap in battery tech. We need a leap not a step.

    • See 11 previous
    • Wumpus Wumpus on Oct 15, 2014

      @There are no leaps in battery development, just incremental changes. Chemical storage has its fundamental limitations. The future is not BEVs, but H2 FCs. There hasn't been a leap in IC production since the 1960s. Incremental changes have gone a long way. Expect incremental improvements in batteries as long as ridiculous amounts of money are spent on smartphones and the like (there is simply no way to create an R&D program for ecar batteries that will compare to simply buying a several hundred dollar device limited by batteries every few years). #insert basic rant on how hydrogen for fuel is a failed idea in roughly every way as well. ##snarkily suggest why stop at H2? Why not use the real wunderfuel, H1*? * No really. Monotomic hydrogen has roughly the storage density of nuclear power, at least as well as anybody who has managed to isolate it long enough to measure.

  • Master Baiter Master Baiter on Oct 13, 2014

    Didn't we already know this?

  • Thelaine Thelaine on Oct 13, 2014

    That's nothing compared to the number of Indonesian Rupiah's they are going to invest.

  • SCE to AUX SCE to AUX on Oct 13, 2014

    I don't believe this factory will produce anything but 18650s for Tesla; no other EV maker is using them. Panasonic and Tesla would have to jointly agree to produce a competitor's form factor other than the 18650 in the Gigafactory, and I'm not seeing that - ever.