Panasonic looks towards Tesla’s new battery production

Panasonic is exploring options for new electric car battery production with partner Tesla after the electric automaker revealed a plan to expand output and halve the price of the major auto component, the Japanese company said on Wednesday.

“We are considering a variety of options, but nothing has been determined at this time,” a Panasonic spokeswoman said after Tesla CEO Elon Musk outlined his strategies in the closely watched “Battery Day” presentation.

“We value our relationship with Tesla and look forward to enhancing our partnership.”