Panasonic to invest $700 million to produce new batteries for EVs - Nikkei

FILE PHOTO: Attendees look over a Tesla Model X powered by Panasonic batteries at the Las Vegas Convention Center during the 2018 CES in Las Vegas, Nevada, U.S. January 9, 2018. REUTERS/Steve Marcus

(Corrects figure in headline to $700 million from $700 billion)

TOKYO (Reuters) - Japan's Panasonic will invest about 80 billion yen ($705 million) to mass-produce a new type of lithium ion battery for electric vehicles (EVs) from as early as 2023, the Nikkei reported on Monday.