Panasonic Holdings Corp. plans to release the latest version of electric vehicle batteries with improved capacity in 2024 or 2025. This was stated by the company’s CTO Shoichiro Watanabe, writes Bloomberg.

This is an updated version of the 2170, which the manufacturer will start producing at a plant in Nevada (USA). Panasonic clarified that the company is working to increase the energy density of the 2170, which can help reduce the overall cost of the electric vehicle.

As you know, Panasonic has set its sights on North America, planning to improve and expand production there to one day provide 200 gigawatt-hours of energy in electric vehicle batteries. Panasonic is also developing another battery called 4680.

As a reminder, Panasonic has invested heavily in developing batteries for electric vehicles to keep up with the global trend toward phasing out fossil fuels and switching to clean, carbon-neutral energy sources.

The company is currently building a battery manufacturing plant in Kansas. This is its second in North America. By the end of this fiscal year, it plans to announce the location of a third facility.

Panasonic has promised to increase its battery production capacity to 200 GWh by fiscal 2030 from the current 50 GWh.