Panasonic Invests In Electric Car Maker Tesla

Tesla Motors has gotten a $30 million investment from Panasonic, which makes the lithium ion batteries that power Tesla's electric roadsters. Panasonic wants a foothold in a market that's expected to grow to more than 40 times its current size in the next five years. It isn't the first Japanese investment in Tesla; Toyota also has a $50 million stake in it.

Copyright © 2010 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

RENEE MONTAGNE, host:

NPR's business news starts with a jump-start for Tesla Motors.

(Soundbite of music)

MONTAGNE: The electric carmaker has gotten a $30 million investment from Panasonic, which makes the lithium ion batteries that power Tesla's electric Roadsters. Panasonic wants a foothold in a market that's expected to grow by more than 40 times its current size within the next five years. This isn't the first Japanese investment in Tesla. Toyota also has a $50 million stake in the firm.

Copyright © 2010 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.