Panasonic Disclosed Finalizing US Site For Tesla's New Battery Plant

  • Panasonic Holdings Corp PCRFY was finalizing its decision regarding the U.S. site for its new battery plant, Reuters reports citing Panasonic Energy CEO Kazuo Tadanobu at a round table event.
  • The Tesla, Inc TSLA battery maker explored potential factory sites in Kansas and Oklahoma to supply the batteries to the U.S. EV maker's Texas plant.
  • Recently Tadanobu disclosed having shipped samples of its more powerful '4680' format electric car battery to Tesla. 
  • The 4680 format battery is five times bigger than Panasonic's current supplies, which could help Tesla cut production costs and boost vehicles' driving range.
  • The commercial production of the new battery will begin before March 2024 at its plant in Wakayama, western Japan, before the production migrates to North America.
  • Price Action: TSLA shares traded lower by 4.78% at $738.38 in the premarket on the last check Friday.
  • Photo by Don McCullough via Flickr

Posted In: BriefsNewsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.