Tesla and Panasonic, best business partners
Panasonic is to invest 256 million dollars in one of Elon Musk's Tesla Motors production addresses in New York.
The investment is to developing photo voltaic cells and modules. Panasonic's action makes the companies' partnership to be stronger.
Panasonic focused on automotive components, leaving the low-margin consumer electronics area.
The investment is announced to be a long-term acquirement between Panasonic and Tesla, and promises infrastructure and new branches for U.S. Tesla.
The two companies made the announcement in October, and did not offered further details at the time.
Tesla declared that their batteries for the forthcoming Model 3 are made exclusively by Panasonic. Same goes for Model S and Model X.
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