Tesla knew that they had scored a major coup when they were allowed to open a new plant in sunny California. That score is paying off big these days as Panasonic announced yesterday that it would invest $30 million in the electric car company’s new endeavors.The investment will give Panasonic a 2 percent ownership stake in the company and Tesla has said that Panasonic will now officially be the company’s preferred supplier of cells for battery packs. Tesla had already been using Panasonic cells in the battery packs for the Tesla Roadster and will now most likely be using them in the newer Model S as well as other future models.
The deal comes shortly after Tesla scored a $50 million investment from another Japanese company in Toyota. Daimler Chrysler is also expected to bring some money to the EV makers. Tesla’s model S will be produced in their new Fremont, California plant and is expected to hit the market sometime in 2012.
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