Panasonic has announced plans to build the world’s largest electric vehicle battery plant.
The A$5.9 billion factory will be constructed in Kansas, and will dwarf the Gigafactory that Panasonic currently runs with Tesla in Nevada.
Panasonic is working on a high-capacity battery for Tesla, which will cut unit costs, while increasing energy capacity fivefold, and driving range by more than 15 per cent.
The plan is to have this battery in production by early 2024.
“With the increased electrification of the automotive market, expanding battery production in the U.S. is critical to help meet demand,” Kazuo Tadanobu, president and CEO of Panasonic Energy said of this investment.
Tesla reported just under a million annual vehicle deliveries last year, up 87 per cent on 2020.
