This week, Japanese tech company Panasonic announced it was investing $30 million in Tesla to jointly develop new battery technology for the electric automaker’s upcoming sedan. The technology could also be licensed by other manufacturers. Tesla currently uses Panasonic cells to power its Lotus-based Roadster and is working with Toyota on developing their next generation of hybrid and all-electric vehicles. The infusion of cash came in the form of a 2-percent ownership stake in Tesla.
Panasonic also recently announced their own joint-venture with Toyota, dubbed Primearth EV Energy Co. The goal is to develop more efficient nickel-metal hydride and lithium-ion batteries. Future plans involve the merger of Panasonic and current rival Sanyo to become a battery development powerhouse for the quickly expanding electric car market.
Factoid: Lithium-ion batteries are currently the most efficient type being used in electric vehicles and are roughly 64 times less energy dense than good ole gasoline. The best Li-ion cells are currently capable of roughly 0.72 MJ/Kg while gasoline is roughly 46.4 MJ/Kg.