Panasonic is moving closer to bringing next generation lithium-ion batteries to the market, which is expected to substantially cut the cost of electric vehicles such as Tesla.
The Japanese electronics maker has been developing a bigger “4680” battery that Tesla chief executive Elon Musk believes is key to placing EVs in the $25,000 price bracket.
Tesla's Model 3 starts at about $41,000 with tax incentives.
The battery, about five times bigger than those currently supplied to Tesla, would allow the US car maker to lower production costs and improve vehicle range.
The 4680 battery will have a “considerable impact” in lowering the cost of EVs, enabling them to spread more widely and, in turn, lower carbon emissions, said Kazuo Tadanobu, chief executive of Panasonic's energy business.
However, surging costs of raw materials, made worse by Russia's military offensive in Ukraine, are expected to slow and even temporarily reverse the long-term trend of falling costs of batteries, according to Gregory Miller, an analyst at industry forecaster Benchmark Mineral Intelligence.
This year could mark the first yearly increase in the average price of lithium-ion battery cells, Mr Miller said.
High EV prices matter because mainstream consumers are not going to pay a large premium for technology that many do not yet fully embrace, research company Cox Automotive told Reuters on Tuesday.
Panasonic is reportedly looking to purchase land in the US for a mega-factory to manufacture the new battery, according to Japanese public broadcaster NHK.
However, the company has not made a final decision on a US production plant, Mr Tadanobu told Bloomberg during an interview.
Last month, Panasonic announced that it would open a production line at its Wakayama Factory in western Japan to manufacture 4680 lithium-ion batteries as part of its plans to expand its business globally.
Global sales of EVs more than doubled to 6.6 million in 2021 as people opted for eco-friendly alternatives to traditional fuel guzzlers, according to an International Energy Agency report.
Worldwide EV sales currently enjoy a market share of 9 per cent in the overall car industry, more than double the 4.1 per cent share in 2020, when three million units were sold, and more than triple 2019's 2.5 per cent share, when 2.2 million cars were sold, the agency said.
“Currently, Panasonic is developing a new high-capacity lithium-ion battery, the 4680, in multiple locations within Japan,” the company said.
“The company will progressively develop production capabilities in preparation for the full roll out. Along with structural improvements, two additional production lines, as well as utility facilities, will be established at the Wakayama Factory, and productivity verification and mass production are set to begin in the fiscal year ending in March 2024.”
Developing the new batteries has “taken an immense amount of stamina” over the past months, Mr Tadanobu told Bloomberg.
Panasonic’s attention to safety will help it maintain an edge going forward, even as Tesla moves to produce its own 4680 cells and other rivals are also rumoured to be considering production, Mr Tadanobu said.
The company’s advantage lies in its ability to “use craftsmanship to maintain safety even while raising the performance of a battery”, he said.
After leading development of the cells, Panasonic will work to retain its top spot, Mr Tadanobu said.
“We don’t want to lose.”
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Company profile
Name: Back to Games and Boardgame Space
Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)
Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)
Based: Dubai and Abu Dhabi
Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)
Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space
Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019
RESULT
Brazil 2 Croatia 0
Brazil: Neymar (69'), Firmino (90' 3)
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Killing of Qassem Suleimani
AGL AWARDS
Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
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