Panasonic to focus on increasing production at the U.S. Tesla joint venture plant

Asian Tech Press (Dec 01) -- Japan's Panasonic Corp. said in a news release on Nov. 30 that it will suspend the lithium-ion battery market survey that it is promoting in Europe at the end of December. Panasonic is currently focused on increasing the production capacity of the U.S. plant jointly operated with Tesla and will cautiously explore entering other regions.

The investigation, jointly conducted by Panasonic and two Norwegian energy companies, was launched in November last year to investigate EV manufacturers' trends and the location of battery production. It is said that the suspension is due to the expiration of the memorandum of understanding related to the market survey. The three companies will maintain a cooperative relationship.

Panasonic operates a battery factory with Tesla in Nevada, USA, and has been increasing its production capacity in line with rising sales. At the request of Tesla, Panasonic will also accelerate the development of the high-capacity battery "4680" into practical use.

Panasonic commented: "First of all, we believe that there are huge business opportunities in North America. Including Europe, will explore the various possibilities on a global scale."

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