Panasonic will provide Tesla with 4680 cells by March, 2024:
TOKYO — Panasonic said on Monday it will begin mass production of a new lithium-ion battery for Tesla before the end of March 2024 at a plant in Japan.
Unveiled by the Japanese company in October, the 4680 format battery is around five times bigger than those currently supplied to Tesla, meaning the U.S. electric vehicle maker will be able to lower production costs. The new powerpack is also expected to improve vehicle range, which could help Tesla lure more drivers to EVs.
Panasonic will build two new production lines at its Wakayama factory in western Japan to build the batteries, the company said in a news release.The Nikkei newspaper reported earlier that Panasonic planned to invest 80 billion yen in the plant.
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