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Monday, 24 January 2022 10:49

Panasonic to Invest $705M to Launch Tesla Battery Production in 2023

Written by Joey Klender, Teslarati
Tesla unveils the 4680 Battery Cell in September 2020. Tesla unveils the 4680 Battery Cell in September 2020. Tesla

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Panasonic will invest as much as $705 million on new production facilities in Japan as it plans to build Tesla’s new 4680 battery cell as early as 2023, new reports said.

Tesla unveiled the 4680 battery cell at its Battery Day event in September 2020. The new chemistry had five times the energy, 16% more range and six times the power output of cells Tesla previously produced. The battery, whose name is derived from its 46-millimeter wide, 80-millimeter long dimensions, has been in development since before the Battery Day event and has not made its way into delivered vehicles yet.

 

Panasonic unveiled its 4680 formatted cell in October and is attempting to produce the battery as a supplier for Tesla. Panasonic spokespeople told Reuters the company is looking into various options for the mass production of the cell, but it plans to launch a test line this year. Further than that, Panasonic had no official announcements to give regarding the status of the line.

 

The cells will be built by Panasonic at the Wakayama prefecture in Western Japan, according to Nikkei Asia. Additionally, the Wall Street Journal reported Panasonic could start testing production as soon as March.

 

Perhaps one of the most significant advantages of the 4680 cell is the cost. The cells can be produced efficiently because of their battery chemistry. Additionally, the manufacturing process of the new cell is more straightforward and is expected to decrease the price per kWh by 14 percent.

 

As batteries are the most expensive part of an electric vehicle, controlling the cost of their production or sourcing widely affects the cost of the car altogether. Tesla has tried for several years to...


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