Tesla shares are trading higher after its supplier Panasonic announced it completed preparations for mass production of high-capacity EV batteries. It's set to produce 4680 cells at the Wakayama plant.
Portfolio Pulse from Benzinga Newsdesk
Tesla shares are rising as Panasonic, a key supplier, has completed preparations for mass production of high-capacity EV batteries, specifically the 4680 cells, at its Wakayama plant.
September 09, 2024 | 1:12 pm
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Tesla shares are benefiting from Panasonic's announcement of mass production readiness for 4680 EV batteries, which are crucial for Tesla's future vehicle models.
Panasonic's readiness to mass-produce 4680 cells is significant for Tesla as these batteries are expected to enhance vehicle performance and reduce costs, positively impacting Tesla's production capabilities and future growth.
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