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Panasonic claims to be making a new Battery Cell for Tesla Gigafactory

Panasonic, on Thursday; said that it is operating to create a new battery cell for Tesla based on the new cell format of the US electric vehicle manufacturer. As the company heads strong in its decade-old relationship with Tesla.

The new battery cell from Tesla; a larger cylindrical shape called 4680 that can hold more energy and is easier to manufacture. Furthermore, it is crucial to achieving the goal of halving battery costs that can ramp up almost 100 times the output of batteries by 2030.

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The decision of Panasonic to work on Tesla's new cell; comes after Tesla EVs' rapid sales have stabilized profits at their joint battery venture in Nevada. This news comes after several years of development problems and delays at the US partner, Tesla.

Furthermore, the company planned to launch an additional production line at the Nevada plant next year. This will result in an increase in the overall capacity of the plant by some 10% to 38-39 gigawatt-hours (GWh) per year by around 2022.

Tesla CEO Elon Musk vowed to cut battery costs in half with the advanced battery cell design and new production processes and produce an "affordable" electric car in several years, but experts have questioned how easily they can be introduced.