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August 06, 2014

Tesla to Build Battery Factory to Advance the EV, Storage Markets

Tesla Motors on July 31 signed an agreement with Panasonic to build a large-scale battery manufacturing plant in the United States. According to the agreement, Tesla will prepare, provide, and manage the land, buildings, and utilities, and Panasonic will manufacture and supply cylindrical lithium-ion cells. Tesla will use the cells and other components to assemble battery modules and packs.

The new facility aims to enable a continuous reduction in the cost of long-range battery packs, while enabling manufacturing at the volumes required for Tesla to meet its goal of advancing mass-market electric vehicles (EV). The new facility will produce cells, modules, and packs for Tesla's EVs and for the stationary storage market. See the Tesla news release.