TOKYO—Panasonic on Monday unveiled a new large prototype battery designed to help Tesla Inc. lower electric vehicle (EV) production costs, in a move the Japanese company’s battery chief said would deepen business ties with its key U.S. customer. During a media roundtable where Kazuo Tadanobu showed the battery that is around five times the size of those currently used by Tesla, he also said Panasonic had no plans to make cheaper Lithium Iron Phosphate (LFP) batteries for more affordable EVs. Tesla’s decision to diversify battery suppliers to companies such as South Korea’s LG Energy Solution, and China’s Contemporary Amperex Technology Co (CATL), and Panasonic’s sale of Tesla shares had raised questions over the future of their decade-long partnership. But as the sole manufacturer of the 4680 format (46 millimeters wide and 80 millimeters tall) battery, Panasonic should remain a critical link in the EV maker’s supply chain, at least for …
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