Tesla Panasonic Agreement

The agreement, signed on June 10 and announced Tuesday by Tesla, sets pricing conditions and requires the U.S. company to purchase a certain amount of batteries from Panasonic in order to meet production capacity commitments during the first two years of the contract`s term. Tesla said the agreement, signed last week and which will take effect on April 1, 2020, sets out the terms of Panasonic`s production capacity commitments and Tesla`s purchase volume commitments during the first two years of the agreement. Building brand loyalty through sustainability – In a challenging economy, adopting sustainable practices or new technologies can be a minor priority. But at this time, brand loyalty is becoming more and more important. As manufacturers look for ways to re-equip supply chains and procurement processes, they should take a long-term sustainability perspective and consider implementing environmental, social and corporate (ESG) governance programs focused on clean energy and reducing carbon emissions. These efforts could include on-site or off-site solar power generation, the acquisition of renewable energy through power purchase agreements (PPAs) or other mechanisms, as well as the electrification of fleets of vehicles or other equipment using fossil fuels. Consumers and employees are more supportive of manufacturers leaving to address social and environmental concerns. OSAKA — Electric car maker Tesla and Japanese partner Panasonic have reached a new three-year agreement to supply batteries from the sprawling Gigafactory 1 in the state of Nevada.

On June 10, 2020, Tesla, Inc. and Tesla Motors Netherlands B.V. (together “Tesla”) and Panasonic Corporation and Panasonic Corporation of North America (together “Panasonic”) amended and reformulated (the “2020 T&Cs”) to the terms and conditions entered into on October 1, 2014 between Tesla and Panasonic, as amended, which established certain agreements for Panasonic for the manufacture of lithium-ion batteries for Tesla at Gigafactory Nevada. The 2020 GTC change, among other things, the service life to 10 years after Panasonic has reached certain milestones in manufacturing. Tesla has signed a new three-year price agreement with Panasonic for the manufacture and supply of batteries at Gigafactory 1 in Nevada. The general conditions of sale have also been adapted on certain points within the framework of the partnership. In accordance with the agreement, Tesla will prepare, supply and administer the country, buildings and utilities. Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in associated devices, machines and other manufacturing tools based on their mutual authorization. A network of supplier partners is planned to produce the necessary materials. Tesla will use the cells and other components to assemble modules and battery packs.

To meet the expected demand for cells, Tesla will continue to purchase batteries produced at Panasonic`s factories in Japan. Tesla Motors www.teslamotors.com/blog-and-press-releases Tesla Motors press@teslamotors.com Tel: +1650-833 8456 OSAKA, Japan / PALO ALTO, USA, July 31, 2014 – Panasonic Corporation and Tesla Motors, Inc. . . .

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