Summary
This 8-K filing from Tesla on January 4, 2021, primarily details a new 2021 Pricing Agreement (Japan Cells) entered into on December 29, 2020, with Panasonic Corporation of North America and Sanyo Electric Co., Ltd. This agreement, effective from October 1, 2020, through March 31, 2022, governs the supply of lithium-ion battery cells manufactured by Panasonic in Japan to Tesla. The agreement is a supplement to existing supply agreements and specifies key commercial terms including pricing, production capacity commitments, purchase volume commitments, and planned investments. This signals a continued, formalized relationship between Tesla and Panasonic for critical battery cell supply, which is essential for Tesla's vehicle production.
Key Highlights
- 1Tesla entered into a new 2021 Pricing Agreement (Japan Cells) with Panasonic and Sanyo Electric.
- 2The agreement is effective from October 1, 2020, to March 31, 2022.
- 3It pertains to the supply of lithium-ion battery cells manufactured by Panasonic in Japan.
- 4The agreement outlines specific terms for pricing, production capacity, purchase volumes, and planned investments.
- 5This is an amendment or addendum to previously established supply agreements between Tesla and Panasonic.
- 6The filing confirms ongoing strategic supply chain cooperation for a key component of Tesla's vehicles.