Japan-based industrial conglomerate Panasonic Holdings has announced plans to build at least two new factories in North America.
The development will increase the production of battery cells used in electric vehicles (EV), reported Reuters.
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The company intends to raise its car battery capacity to 200GWh each year by March 2031, approximately four times its current capacity level.
A Panasonic representative told Reuters that the company seeks to develop these new factories in North America for manufacturing 4680 batteries by 2030.
Panasonic Group CEO Yuki Kusumi stated that the company is yet to select the exact locations to expand its production capacity in North America.
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Kusumi was quoted as saying: “It could be Nevada; it could be Kansas, or it could be somewhere else.”
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By GlobalDataAccording to a report by the Nikkei newspaper, cited by Reuters, Panasonic and Japanese trading and investment company Marubeni will develop a distribution network together in Japan using small EVs.
Both companies will officially partner to establish a joint venture next month. The new entity will be responsible for the installation of EV charging ports, managing vehicle batteries and other related issues or tasks.
The partners seek to roll out hundreds of EV commercial vehicles across the next two years.
Panasonic has begun operating a pilot 4680 production line at its Wakayama plant in Japan.
In the coming two years, Panasonic will also establish two new sites in Japan to expand its car battery technology.
One will be a production technology plant in Osaka in 2024 while the other will be a site for developing new and next-generation batteries next to Kadoma in 2025.
