Panasonic Not Worried About Tesla’s Production Of Batteries

According to reports, in response to investor concerns, Panasonic company recently stated that it is not worried about Tesla Plans to produce batteries independently. As the total number of electric vehicles on the market increases, Panasonic’s battery business will continue to expand.

Image for post
Image for post

The CEO of TESLA Elon Musk said in September that Tesla will independently produce lithium-containing batteries. Tesla’s plan is to halve the cost of the battery and increase the range in a few years.

Affected by the news, Panasonic’s stock price fell sharply. Panasonic had lost its position as the sole supplier of Tesla car batteries previously, Panasonic investors believe that Musk’s move will further hit the relationship between the two partners.

But Yasuaki Takamoto, an executive in charge of the battery business of electric vehicles in the US market, said that as the total number of electric vehicles on the market increases, Panasonic’s battery business will continue to expand. This is the case even if Tesla manufactures its own batteries and buy more batteries from competitors such as LG, Chem, and CATL.

Yasuaki Takamoto said: “We knew from the beginning of the cooperation that it would be impossible for Panasonic to achieve the expansion pace envisioned by Tesla.”

There were reports last month that the Indonesian Minister of Industry Agus Gumiwang has confirmed that Tesla is negotiating with the Indonesian government to discuss the establishment of a battery factory.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store