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Tesla Motors Inc (TSLA) And Samsung Battery Deal Nears Conclusion

Talks between Tesla Motors Inc (NASDAQ:TSLA) and Samsung SDI, a subsidiary of Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930), for the supply of car batteries, is getting more serious, according to Reuters. In the past, there has been news that Tesla Motors is hunting for a new partner to provide electric car batteries, in addition to its current partner Panasonic, and if the reports are true the search may soon be over.Tesla
A step closer to deal

Executives of both companies said that the talks have not been finalized yet but discussions have reached a new level and are on the verge of finalizing, according to Reuters.

Another source said that the only hurdle in the deal is Samsung’s condition that Tesla Motors Inc (NASDAQ:TSLA) should buy other components also from Samsung Electronics Co., Ltd. (LON: BC94) like touch screens and so on.

Tesla Motors Inc (NASDAQ:TSLA) has concluded testing the Samsung battery for its upcoming cars, according to another source. Tesla will apparently use Samsung batteries in its upcoming 2015 Tesla Model X crossover.

Another source denied that both companies were in talks and nearing finalization of the deal. A source close to the development said that the lithium-ion batteries made by Samsung Electronics Co., Ltd. (LON:BC94) were not as good as Panasonic’s product. The source said that the information that a deal is near is “not accurate.”
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