Tuesday, November 17, 2020

Equinor, Norsk Hydro, Tesla Supplier Panasonic Looking At Big Battery Bet In Europe

 From the Financial Times, November 18:

Tesla supplier Panasonic to make big battery bet in Europe
Japanese group plans to set up its first plant in Norway with Equinor and Norsk Hydro

Panasonic is making a significant push into Europe with plans to set up its first battery factory in Norway, as the Japanese group tries to leverage its success supplying Tesla in the US to win more business from European carmakers. The group intends to team up with Norwegian state-controlled oil and gas major Equinor and aluminium company Norsk Hydro for a feasibility study on expanding its battery business in Europe to be completed within six months.

Despite running the world’s largest battery factory with Tesla in Nevada, Panasonic has only a small presence in Europe, where a number of companies including Swedish upstart Northvolt and Tesla itself are building plants....