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Panasonic Seeing Robust Tesla Demand for Batteries, Development

  • Electronics maker had been expected to unveil new US plant
  • CFO says Tesla is pushing for faster development of 4680 cell
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Photographer: Angel Navarrete/Bloomberg

Panasonic Holdings Corp. is being asked by Tesla Inc. to speed up development of its next-generation 4680 batteries, said Hirokazu Umeda, chief financial officer. 

Anticipation had been building for the Japanese company to unveil plans to construct a new battery factory in the US, but instead the CFO spoke at a post-results briefing about ongoing robust demand for batteries, including the 2170 cells it supplies for Tesla’s electric vehicles.