Salem Radio Network News Sunday, October 1, 2023

Business

Panasonic to boost battery output at Tesla’s Nevada Gigafactory – Nikkei

(Reuters) – Japan’s Panasonic Holdings Corp will expand the production of electric vehicle batteries at a factory in Nevada jointly operated with Tesla Inc, Nikkei reported on Monday, citing people familiar with the matter.

The company’s unit, Panasonic Energy, will install a 15th production line at Gigafactory Nevada, the report said.

Tesla recently told Panasonic it would “buy as much as [Panasonic] can make”, according to an executive at the Japanese manufacturer, the report added.

Panasonic said last month it planned to build at least two new factories for the production of Tesla 4680 battery cells in North America by 2030.

(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Pooja Desai)

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