Panasonic To Invest $700 Million To Produce Tesla EV Battery -Nikkei

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Panasonic unveiled the 4680 format (46 millimeters huge and 80 millimeters tall) battery in October.


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

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Panasonic unveiled the 4680 format (46 millimeters huge and 80 millimeters tall) battery in October.

Japan’s Panasonic will start producing its new lithium-ion battery for Tesla from as early as 2023, with plans to take a position about 80 billion yen ($705 million) in manufacturing amenities in Japan, the Nikkei reported on Monday. The powerpack may assist make electrical automobiles (EVs) extra engaging to motorists by extending cruising vary by a couple of fifth, the Nikkei reported, with out saying the place it obtained the knowledge.

“We are studying various options for mass production, including a test production line we are establishing this business year. We don’t, however, have anything to announce at this time,” Panasonic stated in a press release despatched to Reuters.

Panasonic unveiled the 4680 format (46 millimeters huge and 80 millimeters tall) battery in October. At round 5 instances as large as batteries it at the moment provides to Tesla, additionally it is anticipated to assist the US electrical car maker decrease manufacturing prices.

Panasonic will make the 4680 batteries at a plant in Wakayama prefecture in Western Japan, with output of lower than 10 gigawatt hours a yr, equal to round 150,000 automobiles, the Nikkei stated.

Panasonic is the only real maker of the extra superior Tesla battery, making certain it stays a key provider to the US firm, at the very least for its pricier fashions, even because the EV maker seeks out battery suppliers in China and elsewhere.

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