Japanese battery maker Panasonic Energy will need to build four new battery factories to meet its target for supplying batteries for electric vehicles (EVs) by 2031, its chief technology officer said.
Shoichiro Watanabe told Reuters in an interview at its headquarters in Osaka last week: “We will need to build around another four factories.”
In June, BEST reported that Panasonic was planning to build at least two new factories for the production of Tesla 4680 battery cells in North America, and by 2030. That would boost its annual auto battery capacity to 200GWh per year by March 2031. In March, it was at 50GWh.
Watanabe told Reuters that Panasonic signalled an openness to joint ventures with car makers for making EV batteries, with Mazda Motor named as an example. This is because the model of battery makers making all the investment is disappearing.
Four new battery plants would require a dozen local factories by materials suppliers, he said, adding that joint procurement with major customers could be considered. This would take account of tax advantages offered by the US Inflation Reduction Act.
A partnership supplying Mazda with cylindrical lithium-ion batteries made in Japan and North America could be agreed this year and take effect after 2025, the companies said last month in a joint statement.
