Auto Manifesto

January 16, 2009

Tesla Supplying Batteries to Smart Car

Automotive News reports that Tesla has finalized a deal with Daimler to supply lithium battery packs for the forthcoming Smart electric car, due out in approximately one year.

The packs will be assembled at Tesla’s location in California using components from Asian manufacturers. These packs will be the same type as currently used in the Tesla Roadster.

By increasing production volume Tesla will reduce per unit costs, and ultimately lower the costs of their vehicles.

The company also recently received a $250m loan guarantee from the U.S. Department of Energy to help it put the Model S sedan into production. Tesla also plans to become a powertrain supplier to other automakers.

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