Panasonic is on its way to leading the electric vehicle battery market this year.
Following the announcement of its chief technology officer about the company's revamped cells for EVs, the tech giant is going all in with its quadruple production which is anticipated to take place by 2030.
Panasonic is Heavily Investing in EV Batteries
Panasonic is now ready to manufacture the new version of electric-vehicle battery cells this year. The quadruple production capacity is expected to finish by 2030.
As per Panasonic's CTO Shoichiro Watanabe, the Osaka-based firm will operate with Tesla for the production of 2170 cells. The company has chosen Nevada as the location of the plant.
Since EVs are pooling in the car industry, Panasonic will need to focus on this investment. It should continue to develop the 2170 cell so it could help EVs to come with reduced costs.
In an interview, Watanabe said that Panasonic will improve productivity and expand the battery capacity simultaneously.
Related Article: Panasonic Showcases New Products, Technologies at CES 2024
North American Expansion of Panasonic Plants
Back in April 2023, Panasonic announced that it planned to construct an EV battery plant in Oklahoma. This is a part of the company's expansion in North American soil.
Annually, Panasonic aims to make 200 gigawatt hours of EV batteries. Apart from that, it will manufacture 4680 cells thicker than the usual batteries. It should measure 80 millimeters in length and 46 millimeters in width.
Panasonic Doesn't Want to Be Left Behind by EV Battery Development
Since more companies are switching from fossil fuels to all-electric means, manufacturers should also adapt to the changes. By 2025, Panasonic expects that new production lines will be established which will contribute to a rise of 10% in the manufacturing capacity.
Watanabe clarified that its decision to work with Tesla at the Nevada plant for the EV batteries will be made "not unilaterally, but together" with the automaker.
According to The Japan Times, Panasonic is currently building an EV plant based in Kansas. This will be the second factory in North America.
Watanabe did not mention the location of the new plant in the region. However, he said that the new plant will need thousands of workers.
"Decisions about where to position new facilities are extraordinarily complex and are based on a wide range of factors," a Panasonic spokesperson said, adding that the decision won't impact operations in Nevada or Kansas.
Panasonic wants to maintain its position as the top battery manufacturer in Japan. It's been supplying EV cells to Tesla and other known automakers in other countries.
Watanabe highlighted that what Panasonic is doing is ideal as part of Japan's efforts to improve its domestic production.
In other news, Mitsubishi invested over $690 million to build a mega "green" hydrogen plant in Europe, particularly in the Netherlands.
Read Also: New Panasonic Kansas Factory Will Not Produce 4680 Battery Cells, But Still Wants to Supply Tesla
