TOKYO (Reuters) – Panasonic Corp’s (6752.T) finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla (TSLA.O) and they are in talks to expand their joint plant in Nevada, which is now profitable.
FILE PHOTO: The Panasonic booth is shown during the 2020 CES in Las Vegas, Nevada, U.S. January 7, 2020. REUTERS/Steve Marcus
The positive outlook comes after production troubles and delays at Tesla strained the company’s partnership with Panasonic over the past few years.
Panasonic recently lost its status as Tesla’s exclusive battery supplier, but has been able to turn around the U.S. joint battery business as demand for Tesla’s electric cars soar.
Last month Tesla reported its third consecutive quarterly profit despite the economic impact of the coronavirus pandemic, taking investors by surprise.
“We are seeing strong demand from Tesla” beyond the Nevada plant’s current capacity of 35 gigawatt hours per year, Panasonic Chief Financial…
Source Reuters Tech News
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