Panasonic Energy strikes silicon anode supply deal with Sila for lithium-ion batteries

Panasonic Holdings

11/12/2023 22:05

Dec 11 (Reuters) - Battery materials company Sila will
supply nano-composite silicon anode to Panasonic Energy, to be
used in the manufacture of lithium-ion batteries, the companies
said on Monday. 
    To meet the rapidly growing demand for electric vehicles,
Panasonic plans to increase global production capacity of
automotive batteries to 200 GWh by 2030-31. Lithium-ion
batteries are essential for the EV industry. 
    Panasonic Energy is a major Tesla supplier. The financial
terms of the deal were not disclosed.
    The Biden administration had earlier this month issued
guidance that will limit Chinese content in batteries eligible
for EV tax credits starting next year, designed to wean the U.S.
electric vehicle battery chain away from China.  
    Sila's components will also be used in an upcoming version
of the Mercedes-Benz G-Class series.
    

 (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))