Outgoing Panasonic CEO Urges Company to Reduce Reliance on Sales to Tesla
takyon writes:
Outgoing CEO says Panasonic must cut Tesla reliance as battery tie-up evolves: FT
Panasonic Corp's outgoing Chief Executive Kazuhiro Tsuga said the company will need to reduce its heavy reliance on Tesla Inc by making batteries more compatible with electric vehicles from other global carmakers, the Financial Times reported on Sunday.
"At some point, we need to graduate from our one-legged approach of relying solely on Tesla," Tsuga, who will step down after nine years as CEO from April 1, told the newspaper in an interview. "We are entering a different phase and we need to keep an eye on supplying manufacturers other than Tesla."
Panasonic Must Reduce Reliance On Tesla, Outgoing CEO Says
Let's recall the Adamas Intelligence report, which indicated that about 90% of Panasonic's batteries deployed in passenger xEVs in 2020 went to Tesla.
[...] One of the most interesting comments from the interview with Kazuhiro Tsuga is that "Currently it is difficult to sell [those batteries] unless there is a company that is able to handle our cylindrical batteries with Tesla specifications". Other major manufacturers are usually not using the cylindrical battery cell format, but rather pouch or prismatic. It appears that they also prefer easier to use cells.
Meanwhile, Tesla is reducing its reliance on Panasonic, having started development of its own cells for in-house production, and partnering with LG:
LG Energy Solution aims to build advanced battery cells for Tesla Inc electric vehicles in 2023 and is considering potential production sites in the United States and Europe, two people familiar with the matter told Reuters. Tesla has not yet agreed to a deal that would expand LG's role in its supply chain beyond China, one of the sources said.
See also: Tesla strikes new Panasonic battery deal as sales and shares soar
Tesla and LG in talks to produce 4680 battery cell at new factory
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