On Monday, Panasonic announced a new production facility in western Japan to make the company's new 4680 lithium-ion batteries.
The 4680 is being developed for Tesla and has five times more energy than current Tesla EV batteries.
Panasonic is adding a new facility and two new production lines at its Energy Division’s Wakayama factory.
Mass production is scheduled to begin in March 2024.
Panasonic says the company is developing the new high-capacity battery in multiple locations across the country.
The company will continue to ramp up production capabilities in preparation for a full rollout.
The 4680 is 46 millimeters wide and 80 millimeters tall and should improve vehicle range.
According to Electrek, Tesla's Model Y made at Gigafactory Texas will be the first vehicle with the new cell.
