November 27, 2022

Attendees look over a Tesla Mannequin X powered by Panasonic batteries on the Las Vegas Conference Heart through the 2018 CES in Las Vegas, Nevada, U.S. January 9, 2018. REUTERS/Steve Marcus

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TOKYO, Jan 24 (Reuters) – Japan’s Panasonic (6752.T) will start producing its new lithium-ion battery for Tesla (TSLA.O) from as early as 2023, with plans to speculate about 80 billion yen ($705 million) in manufacturing services in Japan, the Nikkei reported on Monday.

The powerpack may assist make electrical automobiles (EVs) extra enticing to motorists by extending cruising vary by a few fifth, the Nikkei reported, with out saying the place it obtained the knowledge.

“We’re learning numerous choices for mass manufacturing, together with a check manufacturing line we’re establishing this enterprise 12 months. We do not, nevertheless, have something to announce at the moment,” Panasonic stated in an announcement despatched to Reuters.

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Panasonic unveiled the 4680 format (46 millimetres broad and 80 millimetres tall) battery in October. At round 5 occasions as huge as batteries it presently provides to Tesla, additionally it is anticipated to assist the U.S. electrical automobile maker decrease manufacturing prices.

Panasonic will make the 4680 batteries at a plant in Wakayama prefecture in Western Japan, with output of lower than 10 gigawatt hours a 12 months, equal to round 150,000 automobiles, the Nikkei stated.

Panasonic is the only maker of the extra superior Tesla battery, making certain it stays a key provider to the U.S. firm, at the least for its pricier fashions, even because the EV maker seeks out battery suppliers in China and elsewhere.

($1 = 113.5400 yen)

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Reporting by Sakura Murakami and Tim Kelly
Enhancing by David Goodman and Emelia Sithole-Matarise

Our Requirements: The Thomson Reuters Belief Ideas.

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