Panasonic would consider additional investment in Tesla Gigafactory 1 to support growth
According to a recent Reuters report, Japanese electronics giant Panasonic would consider increasing its already massive investment in US electric vehicle (EV) manufacturer Tesla’s Gigafactory 1 in Nevada, if the automaker wants to increase its battery-production capacity.
The Gigafactory 1 is Tesla’s mammoth battery-production plant at which Panasonic produces custom 2170 li-ion cells, co-developed with Tesla Motors, for the automaker’s Model 3 electric cars. With Tesla having recently confirmed that the production of Model 3 is steadily increasing, the pace of battery production would also apparently have to be increased.
The 2013-launched Tesla Gigafactory 1 currently has an annual production capacity of over 20 GWh. However, to support Tesla’s ambitious EV growth plans, the production of batteries at the plant would have to be increased more than two times within the next one year.
Tesla and its partners have already invested more than $4 billion into Gigafactory 1, with Panasonic’s contribution to the plant’s funding being over $1 billion.
Revealing that Panasonic is open to increasing its investment in Gigafactory 1 if an increase in battery-production capacity is required by Tesla, Yoshio Ito -- Chief of Panasonic’s automotive business -- said during a recent media roundtable: “We would of course consider additional investment if we are requested to do so.”
- 909 reads
Related Articles
Popular Stories
According to a Reuters report, Germany’s new Finance Minister Olaf Scholz said in a recent interview with the Funke Mediengruppe newspaper chain that all possible measures should be taken by the country to avoid the imposition of ban on diesel car
In a recent announcement, New York State Governor Andrew M. Cuomo has revealed that the ‘Drive Clean Rebate’ program launched by the State in 2017 has thus far benefitted more than 5,750 consumers.
South Korean automaker Hyundai recently introduced its Nexo FCEV at the 2018 CES event. The car marked the next generation of hydrogen fuel cell cars, as it boasts some significant improvements over the old Tucson FCEV.
At the New York Auto Show this week, German automaker Volkswagen (VW) showcased a new edition of the Atlas SUV --- the Atlas Cross Sport PHEV concept.
In the first ever ‘Best Electric Van’ prize awarded by VansA2Z and Van Fleet World for the first time to electric vehicles, the all-electric Renault Kangoo Van Z.E.33 has emerged as the winner.
According to a leaked email reportedly sent by Tesla CEO Elon Musk to company employees this week, the current production rate of Tesla Model 3 electric vehicles is ‘over 2,000 units per week.’
