Panasonic's 4680 Battery Mass Production Delayed Again

[Technical Progress] Panasonic's 4680 traction batteries have been delayed once more due to the lack of approval from a key customer.

Core Development: Third Postponement of Mass Production Timeline, Customer Approval Still Pending

Panasonic Energy originally planned to begin mass production of its 4680 cells by the end of fiscal year 2024, later postponed to March 2026. However, as of May 2026, production has still not commenced. Sources familiar with the matter indicate that the primary customer (most likely Tesla) has yet to issue a formal go-ahead for volume manufacturing.

Key Metrics: Production Lines Ready but No Orders; Initial Investment Hard to Monetize

Panasonic has already built two 4680 production lines at its Wakayama factory and held an inauguration ceremony in September 2024. The new cell is twice the size of the 2170 format and offers approximately five times the capacity, significantly reducing the number of cells required and enhancing vehicle range.

Strategic Foundation: Tesla-Centric Strategy Hits Real-World Bottleneck

Although Group President Yuki Kusumi has designated traction batteries as the company’s top priority, overreliance on a single customer has left Panasonic’s commercialization timeline subject to external decisions. This dependency introduces uncertainty into its capacity expansion plans, which aim for a substantial increase by fiscal year 2028.