Tesla Inc has signed a preliminary agreement with China's Tianjin Lishen to supply batteries for its new Shanghai car factory, as it aims to cut its reliance on Japan's Panasonic , two sources with direct knowledge of the matter said.
Toyota Motor Corp and Panasonic Corp are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said.
