Panasonic plans massive battery factory in US to supply Tesla -NHK

TOKYO, March 4 (Reuters) – Japan’s Panasonic Corp (6752.T) is seeking to buy land in the United States for a mega-factory to manufacture a new type of electric vehicle (EV) battery for Tesla Inc (TSLA .O), public broadcaster NHK reported on Friday.

Panasonic plans to build the multi-billion dollar factory in Oklahoma or Kansas for their proximity to Texas, where Tesla is preparing a new electric vehicle factory, NHK reported. NHK gave no timeline for Panasonic’s US project.

NHK did not cite the source of its information. Panasonic said the announced plan was not something it advertised.

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A long-time supplier to Tesla, Panasonic has already announced plans to start mass producing the new type of lithium-ion battery for Tesla before the end of March 2024 with two new production lines at its western plant. from Japan to Wakayama.

The 4680-size battery (46 millimeters wide and 80 millimeters high) is about five times larger than those currently supplied to Tesla, meaning the US electric vehicle (EV) maker will be able to cut production costs.

The new power supply should also improve the vehicle’s range.

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Reporting by Chang-Ran Kim; Editing by Leslie Adler and Cynthia Osterman

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