Talks between Tesla and Samsung For Battery supply Deal

US electric car maker Tesla Motors and Samsung SDI, a division of Samsung Electronics Co. Ltd, on Friday announced that they were in talks for the supply of battery technology. The deal which is yet to be finalized shows Tesla’s vision of electric powered cars, though analysts predict that they would just remain as a choice in the wider automotive markets around the World as users seem to be interested in Fuel-efficient innovations. Few analysts also feel electric cars to be a better alternative than cars dependent on gasoline.

As the deal has not yet been finalized, Kim Sang-eun a spokesperson for Samsung SDI declined to comment on the details. ” Nothing has been decided,” Kim said.

The two companies are in their final stage of talks and are working out their remaining issues in the yet to be finalized deal with Samsung SDI to provide battery technology  for Model X. Tesla is likely to release the model in the market as an affordable car in 2014. However sources have claimed that both the company have competed the trails of Samsung SDI battery technology. He further added that the deal was “close” to being finalized.

Tesla would start receiving battery supplies from Samsung SDI beginning with Model X, sources said. Discussions were also on between Tesla and the South Korean company for a future product slated to launch in 2017.

source: Reuters