Panasonic developing new battery cell for Tesla
2020-10-30 14:58:34 [Print]
Panasonic Corp said on Thursday it is working to develop a new battery cell for Tesla Inc based on the U.S. electric vehicle maker's new cell format, as the Japanese company moves forward its decade-old partnership with Tesla.
Tesla's new battery cell -- a larger cylindrical format called 4680 that can store more energy and is easier to make -- is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.
"We have considerable know-how for that battery," Panasonic's Chief Financial Officer Hirokazu Umeda said. "We started working on it immediately after Tesla's Battery Day (in September) and are also preparing to set up a prototype production line in parallel," he added.
Panasonic's decision to work on the new cell for Tesla comes as brisk sales of Tesla EVs have stabilized profits at their joint battery venture in Nevada following several years of production troubles and delays at the U.S. partner.
Umeda also said the company has decided to launch an additional production line at the Nevada factory next year, increasing the plant's total capacity by some 10% to 38-39 gigawatt hours (GWh) a year by around 2022. "We are targeting a profit margin of around 5% at our Tesla battery business within two to three years," he added.
Tesla's new battery cell -- a larger cylindrical format called 4680 that can store more energy and is easier to make -- is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.
"We have considerable know-how for that battery," Panasonic's Chief Financial Officer Hirokazu Umeda said. "We started working on it immediately after Tesla's Battery Day (in September) and are also preparing to set up a prototype production line in parallel," he added.
Panasonic's decision to work on the new cell for Tesla comes as brisk sales of Tesla EVs have stabilized profits at their joint battery venture in Nevada following several years of production troubles and delays at the U.S. partner.
Umeda also said the company has decided to launch an additional production line at the Nevada factory next year, increasing the plant's total capacity by some 10% to 38-39 gigawatt hours (GWh) a year by around 2022. "We are targeting a profit margin of around 5% at our Tesla battery business within two to three years," he added.
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