Panasonic’s technology chief, Shoichiro Watanabe, mentioned in an interview that the company plans to construct four additional factories by 2031. These factories are necessary to achieve their target of reaching 200 gigawatt hours (GWh) of annual EV battery capacity.
Currently, Panasonic operates two EV battery plants, located in Nevada and Kansas. The Nevada plant has a capacity of 35 GWh, while the Kansas plant, set to be finished in 2024, is expected to have a capacity of 80 GWh.
To meet their goals, the four new plants must have a combined capacity of at least 85 GWh. The specific locations for these plants have not been disclosed, but Panasonic is considering various countries, including the United States, China, and Europe.
The demand for EV batteries is predicted to increase substantially as more automakers shift towards electric vehicles. Panasonic is not the only company expanding its production capacity. Competitors like LG Chem, Samsung SDI, and CATL are also planning to build new EV battery plants.
The growth of the EV battery market presents a significant opportunity for Panasonic. As a leading supplier of EV batteries globally, the company’s extensive batterries manufacturing experience gives them a favorable position. The addition of new plants will enable Panasonic to meet the surging demand for EV batteries.
