Tesla Supplier Panasonic Pares Back EV Battery Expansion Plans

Tesla Inc. supplier Panasonic Holdings Corp.removed the target date for a capacity ramp up at its lithium-ion battery factory in Kansas, putting the brakes on a core pillar of its business.

In an earnings presentation Wednesday, Panasonic said it now targets reaching approximately 32 gigawatt hours at an unspecified future date. The Osaka-based company had previously projected reaching around 30 gigawatt hours by March 2027.

The effective slowdown comes on the heels of one of Tesla’s worst earnings stretches and a warning from Elon Musk that difficult times may still be ahead.

Panasonic said the Kansas plant is expected ...