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Tesla And Panasonic Enter 3-Year Battery Pricing Agreement
On June 16, 2020, Tesla announced a new three-year pricing deal (from June 10, 2020) with its long-term (but not exclusive) battery partner - Panasonic.
The 2020 Pricing Agreement (effective as of April 1, 2020 until March 31, 2023) is about lithium-ion cells produced at the Tesla Gigafactory in Nevada (the cylindrical 2170-type used in Model 3, Model Y and energy storage systems).
The brief announcement mentions several topics of the agreement (without providing any details):
-"sets forth the specific terms between the parties with respect to pricing"
-"planned investments and new technology"
-"production capacity commitments by Panasonic and purchase volume commitments by Tesla over the first two years"
"On June 10, 2020, Tesla and Panasonic also entered into the 2020 Pricing Agreement (Gigafactory 2170 Cells) (the "Agreement"), effective as of April 1, 2020 until March 31, 2023, relating to the manufacture and supply by Panasonic of lithium-ion battery cells at Gigafactory Nevada. The Agreement is subject to the 2020 GTC and, among other things, sets forth the specific terms between the parties with respect to pricing, planned investments and new technology, as well as production capacity commitments by Panasonic and purchase volume commitments by Tesla over the first two years of the Agreement."