Panasonic is developing a new high-capacity lithium-ion battery, the “4680”, in multiple locations within Japan
Japanese conglomerate Panasonic Corp will begin mass production of a new lithium-ion battery for Tesla Inc before the end of March at a plant in Japan, it announced through a recent press release.
The company said that it will establish a production facility at its Wakayama Factory in western Japan to manufacture new, “4680” lithium-ion batteries for EVs in order to expand its business globally.
Currently, Panasonic is developing a new high-capacity lithium-ion battery, the “4680”, in multiple locations within Japan. The company will progressively develop production capabilities in preparation for the full rollout.
Along with structural improvements, two additional production lines as well as utility facilities will be established at the Wakayama Factory, and productivity verification and mass production are set to begin in the fiscal year ending in March 2024.
While Panasonic did not reveal its client for its 4680 cells, it would not be surprising if its longtime partner Tesla became one of the biggest buyers of the Japanese company’s upcoming batteries. Tesla and Panasonic’s working relationship has been established over the years, after all, as evidenced by the two companies’ operations in Gigafactory Nevada.
The company did not say how much it will spend on the expansion, although Japanese media reports suggested that Panasonic planned to invest 80 billion yen ($692 million) in the plant.
