{"id":6161,"date":"2022-01-24T23:36:06","date_gmt":"2022-01-24T23:36:06","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/24\/panasonic-investing-700-million-into-factory-upgrades-to-build-advanced-tesla-batteries\/"},"modified":"2022-01-24T23:36:06","modified_gmt":"2022-01-24T23:36:06","slug":"panasonic-investing-700-million-into-factory-upgrades-to-build-advanced-tesla-batteries","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/24\/panasonic-investing-700-million-into-factory-upgrades-to-build-advanced-tesla-batteries\/","title":{"rendered":"Panasonic investing $700 million into factory upgrades to build advanced Tesla batteries"},"content":{"rendered":"

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Starting in 2023, Panasonic is hoping to begin producing a new battery at a new factory in its home country of Japan that will increase the range of Tesla cars.<\/p>\n

This information comes courtesy of the Japanese financial news publication\u00a0The Nikkei<\/a>. <\/em>However,\u00a0Reuters<\/a>\u00a0<\/em>notes that the info, precisely the 15 to 20 percent range increase in Tesla cars, appears to be unverified or from a source that the paper isn\u2019t naming. Therefore, I\u2019d place this news in \u2018leak\u2019 territory.<\/p>\n

That being said, Panasonic has shown off a more efficient \u20184680 Battery\u2019 before, and Tesla did mention that its new battery design can increase range by 15 percent at a prior battery day<\/a>.<\/p>\n

Panasonic has officially told Reuters\u00a0that it\u2019s looking at various options to begin mass production and has started work on a test production line to be established later this year. \u201cWe don\u2019t, however, have anything to announce at this time.\u201d In a prior report, the battery company did tell The Wall Street Journal\u00a0<\/em><\/a>that it plans to start testing in March 2022.<\/p>\n

The leak suggests that Panasonic will add a section to its plant in Wakayama, Japan, to produce the batteries as soon as the end of the year. This add-on is slated to cost around $700 million USD (roughly $884 million CAD).<\/p>\n

Tesla is also working to produce its own 4680 batteries in-house, but the company is also struggling to get mass production ramped up.<\/p>\n

Source: Reuters<\/a>, The Nikkei<\/a>, The Wall Street Journal<\/a><\/p>\n<\/p><\/div>\n