Panasonic to Boost Battery Output for Tesla

Economy

Osaka, Aug. 19 (Jiji Press)--Panasonic Corp. <6752> plans to spend some 10 billion yen next year to increase its battery production capacity in the United States for supply to Tesla Inc., informed sources said Wednesday.

The move by the Japanese electronics maker comes as Tesla aims to expand its electric vehicle production amid strong demand for its Model 3.

Specifically, Panasonic is set to add a new production line at a battery plant in Nevada. The plant, which is jointly run by the two companies, currently has 13 production lines.

The addition is expected to boost the plant's annual production capacity by some 10 pct to some 39 gigawatt hours of battery storage.

It will be the first investment to boost the plant's capacity since the 2017 start of its battery production.

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Jiji Press