According to a Reuters report on May 23, Japan’s Panasonic Corp. said it hopes to become the sole producer of Tesla’s multi-billion-dollar battery plant to consolidate its commitment to Tesla’s projects. .
It is reported that as Japanese electronics giant Panasonic seeks to expand its industrial products to other businesses to reduce its dependence on the consumer market, the demand for lithium batteries by US electric vehicle manufacturer Tesla is undoubtedly a boon. In addition, in addition to directly investing $2 billion, Tesla is still seeking about $3 billion in investment, which made it impossible for Panasonic to make a careful evaluation of Tesla's plan until last week.
Yoshio Ito, senior management executive and president of Panasonic and the factory division, said at a press conference on May 23 that Panasonic currently has no decision-making schedule for investment, and any spending this year will be small. Even if Matsushita becomes the sole producer of the factory in the future, it will not become the main investor of the remaining investment amount.
Panasonic is already a major supplier of Tesla lithium batteries, but still competes with Samsung SDI Co Ltd. Ito said it does not want to have other battery manufacturers on the list.
Tesla CEO Elon Musk told analysts in early May that he hopes Panasonic will be the main partner of its project from the very beginning and hopes that both parties will reach an agreement at the end of the year. The plant project is expected to be operational in 2017 and will begin construction in two planned construction sites in June.
In October 2013, Panasonic and Tesla signed an agreement. According to the agreement, the supply of batteries will increase to 2 billion in the four years to 2017. Ito said that Panasonic will spend more than 28 billion yen (about 275 million US dollars) this year for car battery production, which is twice the current budget, most of which will be supplied to Tesla.
It is expected that by the end of March 2019, Matsushita will become the first producer of automotive batteries, and its annual revenue will reach 450 billion yen (about 4.43 billion US dollars). In the last fiscal year, Matsushita’s annual revenue was $13 billion.
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