Panasonic Wants to Produce More Than Just Batteries for Tesla Motors Inc (TSLA)

Panasonic wants to work on TSLA's self-driving cars

Panasonic Corporation (ADR) (OTCMKTS:PCRFY) wants to extend its relationship with Tesla Motors Inc (NASDAQ:TSLA) beyond batteries.

Tesla Motors Inc, TSLA, Panasonic
Source: Tesla

Panasonic Corporation (ADR) wants to be a part of Tesla Motors Inc’s self-driving car plans. The company is specifically interested in developing sensors that could be used with the system. This may include its “organic photoconductive film CMOS image sensors” that are currently in development.

“We are deeply interested in Tesla’s self-driving system,” Kazuhiro Tsuga, CEO of Panasonic Corporation (ADR), told Reuters. “We are hoping to expand our collaboration by jointly developing devices for that, such as sensors.”

Panasonic Corporation (ADR) already has strong ties with Tesla Motors Inc. It is the sole provider of batteries for the electric car company’s Model S and Model X vehicles. It will also be the exclusive provider of batteries for the upcoming Model 3. Plus, it is investing $260 million in a TSLA factory for photovoltaic cells and modules used in solar energy setups.

Tesla Motors Inc has been moving forward with its self-driving efforts. It showed of the second generation of its Autopilot hardware a few months ago. This setup includes one radar, eight cameras, ultrasonic sensors and a supercomputer. The hardware will likely change over time, but TSLA is dedicated to the technology, reports Electrek.

Panasonic Corporation (ADR) may also be interested in showing off its new heads-up display technology to Tesla Motors Inc. The new tech was just recently revealed earlier this month at the Consumer Electronics Show. It could be used to provide drivers with additional information without cluttering the dashboard.

TSLA stock was up 1% and PCRFY stock was down slightly as of Thursday afternoon.


Article printed from InvestorPlace Media, https://investorplace.com/2017/01/tesla-motors-inc-tsla-panasonic/.

©2019 InvestorPlace Media, LLC