Japan's Panasonic Holdings Corp aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America, it said on Thursday.
A pedestrian is reflected in a sign at Panasonic Center in Tokyo, Japan, Feb. 3, 2016. REUTERS/Yuya Shino/File Photoaims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America, it said on Thursday., 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. The firms will form a joint venture around June that will be tasked with issues ranging from installing charging units to managing vehicle batteries, Nikkei said, adding they will deploy hundreds of EV commercial vans in about two years.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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