Tesla and Panasonic sign lithium battery pricing agreement in 2020

June 17 news, Tesla( TSLA.US )On Tuesday, it said it had signed a 2020 pricing agreement with Panasonic on June 10, 2020, involving the production and supply of lithium-ion batteries at its Nevada super plant. The agreement is valid from April 1, 2020 to March 31, 2023.

The pricing agreement sets out the specific terms of pricing, planned investment and new technology between the two parties, as well as Panasonic’s capacity and Tesla’s purchase volume for the first two years of the agreement.

Figure data released by China automotive power battery industry innovation alliance on June 11

Although domestic model 3 is gradually gaining a foothold in sales, Korean LG Chemical and Japanese Panasonic are still the vast majority of Tesla’s power battery suppliers. In 2019, it will become a watershed for Japanese and Korean power battery enterprises in China’s market share. In May this year, the market share of the two battery companies has reached 18.57%, which has put pressure on BYD’s position as China’s second largest battery supplier.