Panasonic Corp., the main supplier of lithium-ion battery cells to Tesla Motors Inc., has said that cooperation with the electric-car maker on the construction of a massive U.S. battery plant is likely to boost demand from European automakers.
"The development with Tesla is catching a lot of attention in Europe," said Laurent Abadie, who heads European operations for the leading home electronics maker. "It could bring some acceleration to this industry. Especially the German carmakers are trying to catch up."
As a result, Panasonic will be able to expand its market-leading position in car batteries, which it already supplies to such companies as Volkswagen, Abadie said.