Tesla Gigafactory 1 may develop as associate Panasonic reviews extra income

Tesla Gigafactory 1 may develop as associate Panasonic reviews extra income

The Gigafactory is supposedly stretched past capability proper now.


Not solely did Tesla pull a revenue within the first quarter of 2020, however its battery associate Panasonic mentioned on Monday its battery enterprise recorded earnings within the black, too, for the second time. Now, Gigafactory 1, primarily based in Nevada, may see an growth.

Reuters first reported on the doable capability growth on the plant throughout its first-quarter earnings name. Panasonic Chief Monetary Officer Hirokazu Umeda particularly mentioned the corporate was “in discussions proper now” to develop work on the facility. Though the corporate is not Tesla’s unique battery supplier (the corporate works with LG Chem in China), the partnership has blossomed lately and recorded two worthwhile quarters. 

Total demand for Tesla’s automobiles seemingly helped push the battery enterprise into worthwhile territory. Umeda talked about demand is past the present capability of 35 gigawatts per 12 months.

Panasonic didn’t instantly return a request for touch upon expanded capability on the Gigafactory, nor did Tesla.

The chief additionally appeared to counsel new batteries within the pipeline for Tesla automobiles, which has turn out to be a scorching matter as of latest. Final week, reviews surfaced suggesting Tesla’s rumored “million-mile battery” may debut quickly earlier than it rolls out in China. The longer-life battery would nix cobalt utilization and be extra reasonably priced to provide, maybe bringing EVs to value parity with gasoline-powered automobiles. A model for North America was additionally talked about.

Nonetheless, work on this battery supposedly occurred with China’s CATL, not Panasonic. However, there’s at all times the likelihood for extra battery breakthroughs.

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