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Panasonic sees electric-car battery sales doubling over 3 years

Tesla's Model 3 is expected to fuel the growth in Panasonic's electric-car battery sales.

OSAKA -- Panasonic's business with electric-vehicle batteries has entered the fast lane, thanks in large part to the supplying of lithium-ion batteries for the cars made by Tesla Motors.

The Japanese company expects sales in this area to more than double over the next three years, rising 120% from fiscal 2015 to reach 400 billion yen ($4 billion) in fiscal 2018.

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