• Kyodo

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The battery manufacturing unit of Panasonic Holdings said Wednesday it plans to quadruple its production of electric vehicle batteries by fiscal 2028 as it expects increasing demand from American EV manufacturing giant Tesla.

Panasonic Energy also said it is aiming for sales to hit ¥970 billion ($7.5 billion) by fiscal 2024, which ends in March 2025, up about ¥200 billion from fiscal 2021.

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