Panasonic to invest $700 million to produce Tesla EV batteries – Nikkei

Panasonic unveiled the 4680 format (46 millimeters wide and 80 millimeters long) battery in October.


Panasonic unveiled the 4680 format (46 millimeters wide and 80 millimeters long) battery in October.
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Panasonic unveiled the 4680 format (46 millimeters wide and 80 millimeters long) battery in October.

Japan’s Panasonic will begin production of its new lithium-ion batteries for Tesla by early 2023, Nikkei reported Monday, with plans to invest about 80 billion yen ($705 million) in production facilities in Japan. The PowerPack could help make electric vehicles (EVs) more attractive to motorists, increasing the cruising range by about a fifth, Nikkei explained where it obtained the information.

Panasonic said in a statement sent to Reuters: “We are studying various options for mass production, including a trial production line that we are setting up this business year. However, at this time we have There is nothing to announce.”

Panasonic unveiled the 4680 format (46 millimeters wide and 80 millimeters long) battery in October. About five times larger than the batteries currently supplied to Tesla, it is also expected to help the US electric vehicle maker reduce production costs.

Nikkei said Panasonic will manufacture 4680 batteries at a plant in western Japan’s Wakayama prefecture, producing less than 10 gigawatt-hours per year, the equivalent of about 150,000 vehicles.

Panasonic is the sole manufacturer of the more advanced Tesla batteries, ensuring it remains a major supplier to the American company, at least for its more expensive models, even as EV makers battery in China and elsewhere. Finds suppliers.

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