Panasonic plans to build a plant in the United States to supply 4680 batteries to Tesla

Published: Mar 4, 2022 10:48

Save

[Panasonic plans to build a factory in the United States to supply 4680 batteries for Tesla] Panasonic is seeking to buy land in the United States to build a large factory to produce batteries for Tesla's new electric vehicles, the Japanese broadcasting association (NHK) reported on Friday. Panasonic is reportedly considering spending billions of dollars to build a plant in Oklahoma or Kansas. The two states are close to Texas, where Tesla is preparing a new electric car factory and recently opened a new headquarters in Austin.

Panasonic is seeking to buy land in the United States to build a large factory to produce batteries for Tesla's new electric cars, the Japan Broadcasting Association (NHK) reported on Friday.

Panasonic is reportedly considering spending billions of dollars to build a plant in Oklahoma or Kansas. The two states are close to Texas, where Tesla is preparing a new electric car factory and recently opened a new headquarters in Austin.

NHK did not disclose the source of its information. In response to the report, a Panasonic spokesman in Osaka responded that the plant plan reported by NHK was not based on the information provided by the company.

Panasonic, a long-time supplier to Tesla, announced this week that it plans to build two new production lines and other facilities at the Wakayama plant in Japan to start mass production of new 4680 lithium-ion batteries for Tesla by the end of March 2024.

The 4680 battery is five times larger than the battery currently supplied by Panasonic to Tesla, with a diameter of 46 mm and a height of 80 mm. This can help Tesla reduce the cost of electric vehicles and increase the vehicle's mileage on a single charge.

Musk, chief executive of Tesla, called the battery a "huge breakthrough" in technology that would make it possible for his company to produce electric cars priced at $25000. Although Tesla plans to produce its own batteries, it has asked Panasonic to start production as well. Panasonic also plans to sell batteries to carmakers other than Tesla.

Tesla's demand for batteries seems endless. The company has begun producing its own batteries at its plant in Fremont, Calif., while continuing to rely on external suppliers such as Panasonic, Ningde Times and South Korea's LG energy solutions.

In recent months, major automakers have announced that they will increase their battery production capacity. In December, Toyota said it would build its first battery plant in the United States in North Carolina with an investment of $1.29 billion and planned to start production in 2025.

Battery

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

48 mins ago

【SMM New Energy News】China Power Capacity to Hit 5.4B kW by 2030 with Renewable Share Exceeding 50%

The SCIO released the overall targets of the 15th FYP for New Energy System, aiming to initially establish a clean, low-carbon, secure, and efficient energy system by 2030. China's installed power capacity has surpassed 4 billion kW and is projected to reach 5.4 billion kW by 2030. Renewable energy will exceed 50% of the total capacity to become the mainstay, while non-fossil generation will hit 50% as the main power supply. Coal and oil consumption will also peak by then.

48 mins ago

49 mins ago

【SMM New Energy News】SCIO Holds Briefing on 15th FYP New Energy System; Zhejiang to Optimize TOU Tariffs from July 1

The SCIO scheduled a press conference on June 26 regarding plans for accelerating the new energy system during the 15th FYP period. Zhejiang Province issued a notice to optimize commercial and industrial time-of-use (TOU) electricity tariffs, effective July 1. GFEX will officially introduce overseas traders to lithium carbonate futures and options trading on July 3.

49 mins ago

53 mins ago

Cobalt Product Quotes Keep Falling, Cobalt Sulphate and Cobalt Chloride Post Five Consecutive Declines; When Will Prices 'Bottom Out'? [Weekly Observation]

53 mins ago