Tesla Supplier Panasonic Eyes Two Or More Battery Plants In North America By 2030: Report

  • Panasonic Holdings Corporation PCRFY is reportedly planning to build two or more facilities in North America to boost its 4680 battery cell production capacity by 2030.
  • The decision comes with an idea to meet the growing demand from the electric vehicle (EV) market, reported Reuters.
  • Panasonic plans to increase its auto battery capacity to 200 gigawatt hours per year by March 2031.
  • The report noted that the company is yet to decide on the site in North America for additional battery production.
  • It has a pilot 4680 production line at its Wakayama factory in Japan.
  • "It could be Nevada, it could be Kansas or it could be somewhere else," the report quoted Group Chief Executive Officer Yuki Kusumi.
  • Panasonic had earlier in the month reportedly planned to delay the production of its 4680 battery cells to improve the performance.
  • Price Action: PCRFY shares closed higher by 0.19% at $10.28 on Wednesday.
  • Photo Via Company
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