Tesla Supplier Panasonic Boosts Battery Sales on U.S. Expansion
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Japan’s Panasonic Corp., which makes electric-car batteries for Tesla Inc., said it boosted sales of the product “significantly” last quarter after expanding production in North America.
Sales of prismatic battery cells advanced after a production increase in Dalian, China, while investments in North America led to gains in revenue for cylindrical batteries in the quarter through September, Panasonic said Thursday. The company didn’t provide revenue or earnings figures for batteries.