Panasonic intends to build additional large-scale production capacity for 4680 battery cells in North America by 2030, according to information posted on the website of its holding business on Thursday.

Panasonic's energy division manufactures automobile batteries for Tesla Inc. According to the business, it wants to reach a production capacity of 200 gigawatt hours per year for vehicle batteries by March 2031.

Panasonic Holdings firm, originally Matsushita Electric Industrial Co., Ltd. from 1935 to 2008 and Panasonic Corporation from 2008 until 2022, is a prominent Japanese multinational conglomerate firm headquartered in Kadoma, Osaka. Knosuke Matsushita established the company in 1918 as a maker of lightbulb sockets. Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionic systems, industrial systems, and home renovation and construction, in addition to consumer electronics, of which it was the world's largest manufacturer in the late twentieth century.