(Yicai Global) Jan. 17 -- Electric vehicle behemoth Tesla Inc. and its sole battery supplier Panasonic Corp. may ramp up cooperation to build a super cell plant in China.
As Tesla is mulling the idea of localizing China production, Panasonic may follow suit, Securities Daily quoted the Japanese firm's President Tsuga Kazuhiro as saying at CES 2018 in Las Vegas. However, there's nothing in stone yet, he added.
The world's largest EV battery maker bagged a 29-percent global market share in the first half of last year. It has been supplying Tesla since 2008 and has provided it with nearly 100 million cells a year since.
Reports in May suggested Panasonic would splurge millions to build a ceramic battery factory in China's eastern province of Jiangsu. In October, Tesla had reportedly struck an investment agreement with Shanghai Free Trade Zone to build a factory there.
However, neither company has confirmed the plans.
Panasonic and Tesla partnered to build the world's biggest auto battery plant in Nevada, US, for USD5 billion in 2014. It began producing cells last January.