Electric vehicle startup Fisker mulls prismatic cell battery manufacturing unit in partnership with major supplier in either US or Europe

In a statement Fisker Inc’s chairman and CEO Henrik Fisker said, the electric vehicle startup is weighing options to set up a battery cell manufacturing facility with a major supplier in either Europe or the United States. The move is aimed at securing components in its supply chain. Earlier Fisker had struggled with the recall…

Tesla aims to ramp up battery production to 3,000 gigawatt-hours

Following Tesla’s unveiling of its plans to produce its own batteries in order to trim costs, shares of its two battery suppliers fell on Wednesday. Shares of South Korea’s LG Chem and Japan’s Panasonic have fallen with the news reaching the market. After initially opening higher, LG Chem’s shares was trading down by 3.1% while…

Tesla & Panasonic end partnership on solar cells production

On Wednesday, Japanese news daily the Nikkei reported that Tesla and Panasonic are ending their partnership to produce solar cells following the Japanese electronics company ramping up efforts to divest unprofitable businesses. The development comes in the wake of Tesla diversifying away from Panasonic as its sole battery supplier for electronic vehicles after it brought…

Panasonic’s Q1 profits at Tesla’s Gigafactory boost investor confidence in EV market

On Tuesday, following Panasonic Corp’s first quarter report, shares of Asian companies in Tesla Inc’s battery supply chain surged. Panasonic’s battery venture with Tesla has boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s Gigafactory is also another validation of Tesla founder Elon…

Toyota widens procurement for electric batteries with these new deals

The electrification of the auto industry is taking place at a neck breaking speed. Much of its success will depend on cost effective access to batteries which will power these electric vehicles. In a significant development, Japan’s Toyota Motor Corp has agreed to partner with China’s Contemporary Amperex Technology Co Ltd (CATL) to supply and…