Panasonic plans to increase Tesla's battery production capacity and will invest 10 billion yen.

On August 19th, according to Nikkei, Panasonic will invest 10 billion yen (approximately 650 million yuan) in 2021 to build a new assembly line at Tesla’s Gigafactory 1 in Nevada, increasing the factory’s total production capacity to 39 GWh/year. Panasonic is Tesla’s long-term battery partner, and the Gigafactory 1 in Nevada, which they operate together, is the world’s largest lithium-ion battery factory. Panasonic, LG Chem, and CATL are Tesla’s main external battery suppliers. This expansion will provide stable support for the production capacity of Tesla Model 3/Y in the future.

In May of this year, Panasonic’s financial report showed that the battery business of Tesla’s Gigafactory 1 in Nevada had been profitable for two consecutive quarters. Gigafactory 1 in Nevada currently has 13 production lines with an annual production capacity of 35 GWh/year. Panasonic’s investment this time will add one assembly line, increasing the total production capacity to 39 GWh/year.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.