Japan's Panasonic Holdings Corp aims to ramp up its production capacity for 4680 battery cells by 2030 by building two or more new factories in North America, it said on Thursday, as it seeks to supply the growing electric vehicle (EV) market.
A pedestrian is reflected in a sign at Panasonic Center in Tokyo, Japan, Feb. 3, 2016. REUTERS/Yuya Shino/File Photoaims to ramp up its production capacity for 4680 battery cells by 2030 by building two or more new factories in North America, it said on Thursday, as it seeks to supply the growing electric vehicle market., seeks to boost its auto battery capacity to 200 gigawatt hours per year by March 2031, about four times its level at the end of March, it said in a presentation on its website.
Panasonic has yet to decide where in North America it will add the production capacity, said the company's Group Chief Executive Officer Yuki Kusumi. Panasonic is running a pilot 4680 production line at its Wakayama factory in Japan, while Tesla is already producing the 4680 battery cells, which Tesla CEO Elon Musk has touted as being key to making cheaper and compelling electric cars.
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