News & Events
Panasonic looking to build lithium-ion battery plant in Europe
- December 3, 2020
- Posted by: Renault Business Academy
- Category: News
TOKYO, Nov. 18 — Panasonic Corp. said Wednesday it will conduct marketing research on the lithium-ion battery business in Europe, a move that could lead to the construction of a plant to supply U.S. electric vehicle maker Tesla Inc. The joint research with two Norwegian energy companies, Equinor ASA and Norsk Hydro ASA, will last through next summer, the Japanese electronics maker said. Tesla is building a factory in Germany.
“We are pleased to enter into this initiative to explore implementing sustainable, highly advanced technology and supply chains to deliver on the exacting needs of lithium-ion battery customers and support the renewable energy sector in the European region,” Panasonic Executive Vice President Mototsugu Sato said in a statement.
Growing awareness of the need to cut greenhouse gas emissions has helped stimulate demand for EVs. Both Japan and the European Union are aiming for net zero emissions by 2050.
Panasonic and Tesla have been jointly operating a lithium-ion battery plant in Nevada.
Panasonic President and CEO Kazuhiro Tsuga, who has led its drive to form a partnership with Tesla, will step down next year, the Osaka-based company said last week. Yuki Kusumi, managing executive officer who currently heads its automotive business, will succeed him.