Panasonic said it will announce the site of a new North American battery production site by March 2024.
TOKYO – Japanese electronics and battery giant Panasonic, a key supplier to Tesla Inc., is planning a massive ramp up to quadruple its battery manufacturing capacity and boost the energy density of its battery 25 percent by the end of the decade as it readies for the electric vehicle age.
Through the fiscal year ending March 2031, Panasonic will expand its global battery production and procurement capacity to 200 gigawatt hours, up from 50 gigawatt hours in fiscal year ended March 31. The investment will feed a near quadrupling of battery revenue to 2.5 trillion yen in the period as EV sales take off, Panasonic Energy CEO Kazuo Tadanobu predicted.Speaking Thursday during Panasonic Holdings Corp.
He said the site, which would be Panasonic's third in North America after the plant in Kansas and an existing one in Nevada, will be around the same size as the Kansas site, or 30 GWh.
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