Tesla EV Battery Supplier Panasonic Boosts Production By 10% At Nevada Factory: Report
Portfolio Pulse from Lekha Gupta
Panasonic Holdings Corp plans to expand electric vehicle battery production at its Nevada factory, jointly operated with Tesla, by 10%. The annual production capacity is projected to increase to 39 GWh, sufficient for 500,000 to 700,000 Tesla Model 3s. Panasonic aims to quadruple EV battery production capacity by 2030.
June 06, 2023 | 9:52 am
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Panasonic plans to expand EV battery production at its Nevada factory with Tesla by 10%, aiming to quadruple capacity by 2030.
The expansion of battery production capacity will likely increase Panasonic's revenue and strengthen its position in the EV battery market. This could positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla's battery supplier, Panasonic, plans to expand production at their jointly operated Nevada factory, increasing capacity by 10%.
The increased battery production capacity will help Tesla secure enough batteries to meet growing demand for its electric vehicles. This could positively impact Tesla's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80