Mazda and Panasonic's energy unit sign auto battery supply agreement [Reuters]
MAZDA MOTOR CORP UNSP/ADR (MZDAY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
TOKYO, March 29 (Reuters) - Japanese automaker Mazda Motor (7261.T) , opens new tab and the energy unit of Panasonic Holdings (6752.T) , opens new tab said on Friday they have signed an automotive battery supply agreement. The deal comes out of talks about a battery supply partnership for electric vehicles that Mazda and Panasonic Energy started in June last year. Panasonic Energy also makes batteries for Tesla (TSLA.O) , opens new tab Mazda and Panasonic Energy said in a joint statement they will disclose at an appropriate time details of the partnership for the supply of cylindrical automotive lithium-ion batteries. The agreement is likely to help Mazda step up production of EVs as part of a 1.5 trillion-yen ($9.9 billion) spending plan it unveiled in late 2022. Panasonic Energy has also been in talks with Japanese automaker Subaru (7270.T) , opens new tab to set up a separate partnership for the supply of cylindrical automotive lithium-ion batteries. ($1 = 151.4100 yen)
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