Panasonic will start mass production of 4680 Tesla batteries at the end of March

Feb. 28 丨According to Reuters, Panasonic (PCRFY.US) said on Monday it will start mass production of Tesla Inc (TSLA.US)'s new lithium-ion battery at a factory in Japan by the end of March.

The company unveiled the 4680-format (46 mm wide and 80 mm high) battery in October, which is five times larger than the batteries currently supplied to Tesla, meaning Tesla will be able to reduce production costs and is also expected to increase the car's range, which could help Tesla attract more drivers to electric cars.

Tesla 4680 Battery

Panasonic said in a press release that the company will build two new production lines to make the batteries at its plants in western Japan and Wakayama.

Panasonic plans to invest 80 billion yen (about $692 million) in the plants, according to Nikkei News morning news.

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John Murphy

John Murphy is the founder of TOPCARS Tesla Aftermarket Accessories, as well as an investor in Tesla and owner of the Model Y. He posts about Tesla news while running the site on a daily basis.

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