Following the release of its latest earnings, Panasonic’s Chief Financial Officer Hirokazu Umeda announced during a conference call that they are working with Tesla to produce its new 4680 battery cell. Tesla first introduced its new in-house battery cell last month at the company’s ‘Battery Day’ event.
According to the executive (via Reuters): “We have considerable know-how for that battery. We started working on it immediately after Tesla’s Battery Day (in September) and are also preparing to set up a prototype production line in parallel,”
Tesla claims that the new form factor of the cell results in a five-times increase in energy and six-times increase in power capacity. In addition, the new tabless battery design will increase manufacturing efficiency, dropping cost per kWh about 14%, furthering Tesla’s quest to create a more affordable electric car.
Although during Tesla’s Battery Day event, the EV giant didn’t disclose and details about working with any specific companies to produce these cells, but based on the statement made by Panasonic’s CFO, it appears that Tesla could license the cell to the Japanese manufacturer.