Panasonic, Tesla expand battery collaboration with new factory

Japanese Panasonic will deliver batteries produced for Tesla’s EVs at new plant in Kansas valued at USD 4bn.

Tesla's CEO Elon Musk and Panasonic's EVP Yoshihiko Yamada pose after partnership agreement in 2014. | Photo: Toru Hanai/Reuters/Ritzau Scanpix/REUTERS / X90040

Japanese Panasonic, the world’s third largest battery manufacturer, plans to build a USD 4bn battery plant in the US for Tesla, writes The Financial Times.

Panasonic and Tesla have already teamed up on a USD 5bn factory in the state of Nevada. The new factory will manufacture batteries for Tesla’s electric vehicles at a time of increased demand. In April, Tesla inaugurated its second car factory in Texas.

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