Panasonic to Supply EV Batteries to Lucid

Dec. 14, 2022

Panasonic Holdings already makes electric vehicle batteries for Tesla, but an agreement was recently reached to do the same for EV automaker Lucid. 

Dec. 14, 2022—Panasonic Holdings has reached an agreement with Lucid Group to supply the electric vehicle automaker with lithium-ion batteries, according to Yahoo! News

Panasonic Holdings is also the battery maker for Tesla Inc. Yahoo! News reports that "nearly all of Panasonic's automotive battery production currently goes to Tesla as the leading U.S. EV makers rapidly expands output." Even though demand is high, Panasonic has found itself almost completely reliant on Tesla as a single customer. Panasonic also has plans for a $4 billion battery plant in Kansas.

That's why this partnership with Lucid is all the more important. Panasonic batteries will power the Lucid Air and Gravity SUV. which begins production in 2024. 

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