Panasonic to begin mass-producing new Tesla battery by end-March 2024
Technology 03:36 PM - 2022-02-28A Panasonic Corp's lithium-ion battery, which is part of Tesla Motor Inc's Model S and Model X battery packs, REUTERS/Yuya Shino/Files
Panasonic Corp (6752.T) said on Monday it will begin mass production of a new lithium-ion battery for Tesla Inc (TSLA.O) before the end of March 2024 at a plant in Japan.
Unveiled by the Japanese company in October, the 4680 format (46 millimetres wide and 80 millimetres tall) battery is around five times bigger than those currently supplied to Tesla, meaning the U.S. electric vehicle (EV) maker will be able to lower production costs.
The new powerpack is also expected to improve vehicle range, which could help Tesla lure more drivers to EVs.
Panasonic will build two new production lines at its Wakayama factory in western Japan to build the batteries, the company said in a news release.
The company did not say how much it will spend on the expansion.
The Nikkei newspaper reported earlier that Panasonic planned to invest 80 billion yen ($692 million) in the plant.
PUKmedia / Reuters
More news
-
UAE Classifies Khor Mor Attack as Terrorism, International Violation
07:49 PM - 2024-04-27 -
Officials Call for Urgent Investigation Into Khor Mor Gas Field Attack
10:31 PM - 2024-04-26 -
Another International Report Mentions Kurdistan's Limited Freedom
09:24 PM - 2024-04-25 -
U.S. State Department Mentions Deterioration of Journalists' Rights in Iraq & Kurdistan
06:48 PM - 2024-04-25
see more
Kurdistan 11:36 AM - 2024-04-28 Iraqi President Stresses Constitutional Resolution of Outstanding Issues
Yemen Reveals Khor Mor Victims' Names
07:28 PM - 2024-04-27
Khor Mor Drone Attack Sparks International Reaction
11:04 AM - 2024-04-27
10 Notable Individuals Receive Golden Bla Award
09:27 PM - 2024-04-23
DPM Talabani Asks Turkish President to Lift Ban on Sulaymaniyah Airport
11:43 AM - 2024-04-23
Most read
-
UAE Classifies Khor Mor Attack as Terrorism, International Violation
Kurdistan 07:49 PM - 2024-04-27 -
Yemen Reveals Khor Mor Victims' Names
Kurdistan 07:28 PM - 2024-04-27 -
Iraqi President Stresses Constitutional Resolution of Outstanding Issues
Kurdistan 11:36 AM - 2024-04-28