Panasonic, a leading technology company, has announced its ambitious goal of building four additional electric vehicle (EV) battery factories across the globe by 2031. This move is part of the company’s strategy to expand its battery production and procurement capacity in response to growing demand for electric vehicles.
In the fiscal year ending March 2031, Panasonic aims to enhance its global battery production and procurement capacity to an impressive 200 gigawatt-hours. This represents a substantial increase from the 50 GWh produced in the previous fiscal year. Notably, the company also plans to enhance the energy density of its lithium-ion batteries, targeting an increase to 1,000 watts per liter by 2030, compared to the current 800 watts per liter.
Shoichiro Watanabe, Panasonic’s chief technology officer, recently discussed the company’s future plans in an interview with Reuters. Watanabe emphasized the necessity of constructing approximately four new factories to achieve their objectives. However, he did not disclose specific details regarding the locations or timelines for these upcoming facilities.
In addition to establishing new battery plants, Panasonic will require the support of up to twelve material supplier factories. Watanabe expressed openness to potential joint ventures for EV battery production, highlighting the possibility of collaborating with major customers for joint procurement.
One potential joint battery venture on Panasonic’s radar involves Mazda, a renowned Japanese automaker. The two companies are currently in discussions to establish a partnership for the supply of cylindrical lithium-ion batteries manufactured in Japan and North America.
Reports suggest that one of the proposed battery factories may be situated in Oklahoma. This facility would likely resemble Panasonic’s existing factory in Kansas, boasting a capacity of approximately 30 GWh. The company is prepared to invest as much as $4 billion into this new site, further solidifying their commitment to the EV battery industry.
With its ambitious expansion plans and commitment to advancing battery technology, Panasonic is poised to play a significant role in shaping the future of electric vehicles worldwide.