Panasonic to Double Its EV Battery Production in China

[Brian W + 78]

Panasonic plans to almost double its electric vehicle battery production in the country to take advantage of the surging market. According to a new report from Japan’s Nikkei, Panasonic is planning to spend “hundreds of millions of dollars” to deploy two new production lines at its Chinese battery cell factory. The two new lines should result in up to 80% increase in production capacity.