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 increase the energy density of its batteries by 25 percent by the end of the decade. Extends up to because it’s ready for it. electric vehicle age.
As part of the expansion, Panasonic said it would announce a third North American battery production site by March 2024. Tesla.
Through the fiscal year ending March 2031, Panasonic will increase its global battery production and procurement capacity to 200 GWh, up from 50 GWh in the fiscal year ending March 31. The investment will nearly quadruple battery revenue to 2.5 trillion yen ($17.9 billion) by the time EV sales begin, Panasonic Energy CEO Kazuo Tadanobu predicted.
“To respond to rapidly growing EV demand,” he said, “we will increase capacity.”
Speaking Thursday during Panasonic Holdings Corp’s annual business strategy briefing, Tadanobu said his company also planned next-generation improvements to its cells.
He said the energy density of Panasonic’s lithium-ion batteries should increase to 1,000 watts per liter in 2030, up from 800 watts per liter in 2022. Improvements will be implemented on the next generation version of its 2170 cylindrical battery and the upcoming higher density 4680 cylindrical battery.
Both batteries are used by Tesla, although Panasonic has also agreed to supply Lucid motors.
Regarding the new North American battery production site, Tadanobu said several candidates are in mind, though he declined to elaborate. The plant will be equipped with Panasonic’s most advanced and cost-effective manufacturing processes, he added.
He said the site, which would be Panasonic’s third in North America after the plant in Kansas and the existing one in Nevada, would be around the same size as the Kansas site, or 30 GWh.
Panasonic plans to produce 2170 batteries in Kansas and 4680 cells at a factory in Wakayama, Japan, with production starting in the April-September period of 2024. Panasonic delayed mass production of 4680 batteries in Wakayama to improve their performance.
Tadanobu said the Wakayama-manufactured batteries will be shipped to a North American customer.
He added that production of 4680 batteries could be added in Kansas in the future.
The Tesla Model Y crossover, which became the world’s best-selling nameplate in the first quarter, uses a 4680 battery, although those cells are manufactured in-house by Tesla.
The upcoming Tesla Cybertruck to be made in Texas is also expected to use the 4680 battery.
Meanwhile, in Japan, Panasonic plans to consolidate and expand its battery development and manufacturing footprint to create core facilities for its global business. The company plans to add 1,000 employees by March 2023 to boost battery development and production here.
The build out will include a new SAIL Technology Center that will open near Osaka in 2025.
Tadanobu said Panasonic plans to increase the performance of the next generation of batteries by reducing the use of nickel and rare earth metals.
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