$161.34 down $3.13.
From Barron's Tech Trader Daily:
Tesla’s Big Battery Order: How Many Cars is That?
Tesla (TSLA) needs batteries like a character in a Lou Reed song needs a fix–and Panasonic is willing to be The Man.
has the details on Tesla’s order.
Under the pact announced early Wednesday, Panasonic will supply nearly 2 billion cells over the next four years. The automotive grade lithium-ion battery cells will power the Model S sedan as well as the Model X SUV, which is scheduled to go into production by the end of 2014, Tesla said.
The stock hit its all-time high, $194.50, thirty days ago:The agreement amends a 2011 contract between Panasonic and Tesla that promised enough cells for 80,000 vehicles — or approximately 560,000 cells — through 2015.Deutsche Bank’s Dan Galves does the math...MORE
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