According to foreign media reports, Tesla not only made profits in the first quarter of 2020, but Panasonic, the company's battery partner, also said on Monday that its battery business also made profits for the second time.Now, the Nevada based No. 1 super plant is expected to expand.Earlier, Reuters reported for the first time that the plant was likely to expand its capacity at Tesla's first quarterly earnings conference call.
Hirokazu Umeda, Panasonic's chief financial officer, made it clear that the company was currently discussing expanding the plant. Although the company is no longer Tesla's exclusive battery supplier - it has also established a partnership with LG Chemical's plant in China, the partnership has flourished in recent years and earned two quarters of profits.
The overall demand for Tesla can help drive the battery business to profitability. The demand mentioned by Umeda exceeds the current capacity of 3.5 million kW / year.
In addition, the executive seems to be proposing new batteries for Tesla, which has become a hot topic in the near future. Last week, it was reported that the rumored Tesla "million mile battery" might appear shortly before its launch in China. It is reported that batteries with longer endurance will no longer use Cobalt and will be produced at a lower cost, which may make the cost of electric vehicles comparable to that of gasoline powered vehicles.