Wednesday, October 30, 2013

Tesla Is Buying Batteries for How Many Cars? (TSLA)

I don't think any corporate news short of a buyout matters to the shares right now, when stocks get broken they don't get fixed in a fortnight. The numbers do show the growth though.
$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.
The Associated Press 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 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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