Panasonic expects to double sales of electric car batteries in three years
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It is forecasting strong demand for its lithium-ion batteries from Tesla, as well as other manufacturers
Kenji Tamura, an executive officer in charge of Panasonic’s automotive and industrial systems business, told Reuters the firm’s annual automobile battery sales to grow to 400 billion yen (NZ%5.4 billion) but the 2019 business year – from less than half that now.
The company is planning on bringing forward its investment in Tesla’s Gigafactory to meet orders for the Model 3.
Panasonic is the exclusive supplier of batteries for the Model 3, Tesla’s first mass-market car.
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