- Panasonic Energy, a major supplier to Tesla Inc TSLA, is developing a new technology to increase battery energy density by a fifth by 2030, Reuters reported.
- If achieved, the technology would increase the driving range of Tesla's Model Y, for example, by over 100 KM (62 miles) with the same size battery pack.
- Manufacturers can use it to produce electric vehicles with lesser weight.
- Panasonic Energy, a unit of Panasonic Holdings Corp PCRFY, is developing the technology using a new mix of additives to allow individual cells to run at a higher voltage without damaging the batteries' performance, the report added.
- "The race among battery makers has been to come up with more potent and effective additives," the report quoted chief technology officer Shoichiro Watanabe.
- Price Action: PCRFY shares closed lower by 0.37% at $8.13 on Tuesday.
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