Panasonic Corp said on Thursday it is working to develop a new battery cell for Tesla Inc based on the U.S. electric vehicle maker's new cell format, as the Japanese company moves forward its decade-old partnership with Tesla.

Tesla's Battery Day showcased significant advancements in engineering, manufacturing, and battery technology, highlighting the new Plaid Model S and a future $25,000 electric vehicle. The event revealed three key takeaways that extend beyond just batteries.

It makes sense to drop premium features on a more affordable EV, but Tesla goes overboard with the new Standard trim Model Y and Model 3. I'd have expected a price cut closer to $10,000.

Fasten your seatbelt, because Tuesday is Tesla's "Battery Day", and some investors expect Chief Executive Elon Musk's pitch on the electric car maker's energy storage advances to re-energize its rally following a recent 21% stock slump.