Panasonic plans new battery production in North America by 2030

Panasonic is seeking to launch a new large-scale production capacity for 4680 battery cells in North America by 2030, it said on its website on Thursday.

Panasonic’s energy unit produces auto batteries for Tesla Inc., the electric vehicle maker.

The company also said that it is looking forward to reaching a production capacity of 200 gigawatt hours per year for automobile batteries by March 2031.