Panasonic is producing a new lithium-ion battery for Tesla in March 2024 in Japan. It means that US electric vehicle makers are able to lower the production costs. 

Panasonic is one of the largest electronic companies in the world. It includes televisions, cameras, office monitors, projectors. It includes the industries like marketing, mobile, software, consumer goods, hardware. This company manufactures and sells lots of electronic and electric products. This happens under the Panasonic brand name worldwide. 

Powerpack expects to improve vehicle range, which will help Tesla tempt more drivers to use EVs. Panasonic build two new production lines at Wakayama factory in Western Japan. To build the batteries, Panasonic set up the production. The company never says how much it will spend on the growth. 

The newspaper Nikkei reported that Panasonic planned to invest 80 billion yen in the plant. Technology changes in various ways.

Panasonic makes structural improvements. It continues on the 4,680 lithium-ion battery. It is expected that the size of the batteries is twice of current batteries.Fewer of some are required for each car. The battery can boost the range of an EV by 15 percent.

The announcement of Panasonic suggests that it could start making the battery next year. The company invests approximately 80 million yen into production equipment. As it may sell the 4,680 to other automakers.

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