Matsushita said it will supply North American markets and the Chinese market, and will increase supply later.
Matsushita did not disclose the total investment amount, but Japanese media said it reached a scale of tens of billions of yen. With the Dalian factory mass production, Japan and the United States have formed a global three-pole supply system for on-board batteries.
As a supplier of Tesla batteries, Panasonic is increasing its investment to advance into a leading auto parts manufacturer, thereby escaping the fierce price competition of smart phones and other consumer electronics products with lower profitability.
Panasonic plans to nearly double its auto business revenue to 2.5 trillion yen (about 22 billion U.S. dollars) by the fiscal year of March 2022, while auto battery business is the key driver of this plan.