OSAKA -- Electric-car maker Tesla and Japanese partner Panasonic have entered into a new three-year agreement on the supply of batteries from the sprawling Gigafactory 1 in the U.S. state of Nevada.
Signed June 10 and announced by Tesla on Tuesday, the agreement sets terms for pricing and requires the U.S. company to purchase a certain amount of batteries from Panasonic in exchange for meeting production capacity commitments over the first two years of the contract period.
