Panasonic is updating its facilities to test and build a new type of lithium-ion battery that would make it possible to build cheaper EVs. — REUTERS/File Photo
Panasonic Corp. is renovating a facility in Japan to start testing mass production of a new type of lithium-ion battery that’s championed by Tesla Inc. as the key to unlocking cheaper electric vehicles.
Panasonic will start test production of a next-generation "4680” battery at a facility in Japan’s western Wakayama Prefecture, Chief Financial Officer Hirokazu Umeda said Wednesday at a briefing on the company’s quarterly financial results.
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