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Panasonic Expects to Double EV Battery Sales by 2019
Japan’s Panasonic Corp. expects to more than double its automobile battery sales to 400 billion yen ($4 billion) in the fiscal year ending March 23, 2019, from 180 billion yen in the just-completed year.
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Japan’s Panasonic Corp. expects to more than double its automobile battery sales to 400 billion yen ($4 billion) in the fiscal year ending March 2019 from 180 billion yen in the just-completed year.
The increase will be driven by an anticipated jump in demand for Tesla Motors Inc.’s electric vehicles with the launch of the upcoming Model 3. Panasonic will be the exclusive supplier of lithium-ion batteries for the $35,000 Model 3, which Tesla aims to introduce by the end of 2017.
Panasonic also confirms it will accelerate its $1.6 billion investment in Tesla's $5 billion "Gigafactory" plant in Nevada. Last month Panasonic said it planned to start making lithium-ion cells for the Model 3 at the facility by November.
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