Tesla's Kurt Kelty To Battery Partners: 'I Need To Know You're On board'
Tesla executive Kurt Kelty gives a speech in Japan asking battery suppliers to take more risks to increase production. Tesla needs more batteries in order to make more cars and drive the price of batteries down.
Not too long after Tesla stepped in to scoop up some of the engineers left behind as Ford, GM and Toyota announced shuttering production Down Under, the California-based EV company will start selling its Model S in Australia. Beginning Tuesday, December 9, sales will begin in Sydney, bringing a California-style plug-in change to the country's automotive landscape.
To paraphrase Dr. Evil from Austin Powers: International Man of Mystery, why spend a trillion when you could spend ... billions? That's what Panasonic is saying about its investment in Tesla's gigafactory, though there's a catch. The billions are in Japanese yen.
Goldman Sachs Analyst Fires Up Electric Crystal Ball
Telsa Motors has some big plans. The electric car company is building its $5-billion Gigafactory near Reno, NV to guarantee a steady supply of lower-cost batteries, has plans to release two new models and is even talking about providing home energy storage on a large scale. The California automaker is ramping up EV production, and hopes to eventually be producing 500,000 cars per year. To do all this, Tesla is going to need a lot of cash, particularly if any of its cars becomes the "next big thi