Aluminum Copper Lead

Panasonic to invest $700 million to build 4680 battery plant in Japan

Panasonic recently announced its plan to invest about about 80 billion yen (~$700 million) in building a battery plant based in Japan. The company said it would start producing prototype 4680 battery for Tesla in 2023 at the soonest. According to media report, Panasonic plans to produce the 4680 batteries at a plant in Wakayama prefecture, with output of approximately 10 gigawatt hours per year, equivalent to around 150,000 vehicles. This new powerpack could help extend the cruising range of electric vehicles by about one fifth.