Tesla Is Teaming Up With Panasonic on Model 3 Battery

Tesla (TSLA) - Get Report is partnering with Panasonic to supply batteries for its upcoming Model 3. The car, which will be delivered in late 2017, has been called Tesla's 'most affordable car yet' and it has a $35,000 sticker price. Tesla CEO Elon Musk tweeted Tuesday evening that the company is working exclusively with Panasonic for Model 3 cells and that reports claiming otherwise are incorrect. Other reports had suggested that Tesla might be sourcing batteries from Samsung. Separately, an analyst team with Pacific Crest Securities said that they are 'more positive' on Tesla in the near term after visiting the company's Fremont, California factory.

This article was written by a staff member of TheStreet.