Shoichiro Watanabe, Panasonic’s chief technology officer for EV batteries, has revealed plans to launch an improved version of the 2170 electric vehicle battery cells as early as this year. The company aims to quadruple its production capacity by 2030 without the need for new factories or heavy investments. Additionally, Panasonic is targeting a 10% increase in manufacturing capacity by 2025 without the requirement for additional production lines or significant investments. The company is also collaborating with Tesla for the production of next-generation EV batteries at the Nevada plant. The Biden administration’s Inflation Reduction Act, offering subsidies for battery cells made in the U.S., presents an advantageous opportunity for Panasonic, which forecasts a significant increase in operating income by March 2024. Despite Japan’s efforts to foster domestic production, Panasonic expressed a preference for self-production. These developments underscore Panasonic’s commitment to leading the global transition towards clean, carbon-neutral energy sources.

Date: Jan 15, 2024

Source: https://www.japantimes.co.jp/business/2024/01/15/companies/panasonic-new-ev-battery/