6/5, 11:51 PM (Source: TeleTrader)
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Panasonic to ramp up battery production in Nevada

Panasonic Holdings intends to ramp up production of electric vehicle (EV) batteries at Tesla's gigafactory in Nevada, which it operates in partnership with the carmaker, which is also its largest customer, Nikkei Asia reported.

The move comes as Tesla expressed the need for more batteries, with the American EV manufacturer reportedly stating that it will purchase all the batteries that Panasonic can produce.

The report claimed that Panasonic Energy, an affiliate of Panasonic Holdings, will install a 15th production line at Tesla's Gigafactory in Nevada.

Baha Breaking News (BBN) / NL