Panasonic to set up new battery factory in Japan
Panasonic says that its Energy Company will establish a production facility at its Wakayama Factory in western Japan to manufacture new, "4680" lithium-ion batteries for EVs in order to expand its business globally.
Panasonic has been working to enhance its line-up of automotive lithium-ion batteries, and currently, the company is developing a new high-capacity lithium-ion battery, the "4680", at multiple locations within Japan.
The company says in a press release that it will progressively develop production capabilities in preparation for the full rollout. Along with structural improvements, two additional production lines as well as utility facilities will be established at the Wakayama Factory, and productivity verification and mass production are set to begin in the fiscal year ending in March 2024.