Panasonic Reportedly to Begin Producing Tesla EV Batteries

Japan’s Panasonic is reportedly set to begin producing new lithium-ion batteries for Tesla’s electric vehicles around 2023.

The high-capacity batteries could boost the range of electric vehicles over 15 percent, the Nikkei reported, without saying where it obtained the information.

In October, Panasonic unveiled new batteries to be manufactured for Tesla, known as 4680 batteries because they measure 46 millimeters wide and 80 millimeters tall, which are five times bigger than the batteries it currently sells to Tesla and are expected to lower production costs.

The company is also reportedly expanding its plant in Wakayama, Japan to produce less than 10 gigawatt hours a year or 150,000 vehicles.

Panasonic, however, declined to confirm Nikkei’s report. “We are studying various options for mass production, including a test production line we are establishing this business year,” the company said in a statement to a news agency. “We don’t, however, have anything to announce at this time.”

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