Public broadcaster NHK reports that Panasonic’s factory will cost a few billion dollars and could be built in Oklahoma or Kansas, near Texas. Tesla is preparing to build a new EV plant in Texas. However, NHK has not given a timeline for Panasonic’s project. Along with this, the source of this information has also not been disclosed. Panasonic says it has not made such an announcement.
Panasonic, which has been supplying batteries to Tesla for several years, has said it plans to mass-produce a new type of lithium-ion battery before March 2024. The battery will be manufactured at the company’s Wakayama plant in Japan. The 4680 format (46 millimeters wide and 80 millimeters long) is almost five times larger than the current battery being supplied to Tesla. This will help Tesla reduce the cost of production and increase the range of the vehicle. Panasonic has been supplying batteries to Tesla for more than a decade. For this, there was an agreement between the two companies, due to which Panasonic became the major supplier of batteries for Tesla.
Tesla has since increased production and signed contracts with other battery-making firms. These include Chinese firms making inexpensive lithium-ion batteries. LG Energy Solutions Limited of South Korea is also planning to produce 4680 batteries. Sales of Tesla’s electric cars have grown rapidly in recent years. Tesla needs more supplies of batteries to meet growing demand. Tesla expects sales to grow rapidly this year. The company is also preparing to launch new models of electric vehicles.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)<!–
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