Panasonic Corp will initially invest around 20-30 billion Yen ($200-300 million) in Tesla Motors for producing lithium-ion battery used in electric vehicles.Tesla Motors is a US based electric car manufacturer and Japan’s Panasonic has been supplying batteries for the electric car maker for years.
Lithium ion batteries are rechargeable batteries in which lithium ions move from anode to cathode during discharge and traverse back to anode while charging. They are available in different form factors such as small cylindrical, large cylindrical, pouch and prismatic. The market is expected to witness robust growth during the forecast period. This is due to the advantages such as higher efficiency, longer life time in compare to other batteries.