Tesla supplier Panasonic is looking to increase battery production for the automaker, amidst high demand for electric vehicles (EVs) and high growth within the industry.
Panasonic is increasing battery production for Tesla by 10 percent by 2024, according to a report from Nikkei Asia. The company is looking to meet heightened battery demand by sending production personnel from Japan to the company’s U.S. factory to help improve efficiency.
Additionally, Panasonic said in July it would be building another EV battery plant in Kansas, expected to cost “several billion dollars” and be up to 400 percent production capacity by the fiscal year 2028.
Tesla Supplier Panasonic to Increase Battery Energy Density by 20%, Says CTO https://t.co/T5hpgOVdaj
— TeslaNorth.com (@RealTeslaNorth) July 13, 2022
Panasonic had already sent dozens of officials to its production line at Tesla’s Gigafactory Nevada by June to train employees and offer technical assistance. The goal included hopes to increase production of 2170 batteries by around 10 percent, or equal to approximately one production line.
One company executive said Panasonic hoped to increase efficiency at its U.S. plants “to reach the level of our domestic factories.”
Panasonic sent Tesla samples for its next-generation 4680 battery cells in June, after the automaker requested they be developed faster than initially planned.
In April, Panasonic announced plans to invest $4.9 billion into the development of increased EV batteries, supply chain software and more.
