Panasonic to invest $100m in EV battery plant in US for Tesla

Japanese electronics giant to raise production capacity by 10%

Panasonic, one of Tesla's battery providers, will boost its U.S. production capacity next year in an investment expected to total well over $100 million. © Reuters

ITSURO FUJINO and TAKESHI SHIRAISHI, Nikkei staff writers

August 19, 2020 18:00 JST

OSAKA/PALO ALTO, U.S. -- Panasonic will boost production capacity of batteries for Tesla next year in an investment expected to exceed $100 million, Nikkei learned on Wednesday.