Panasonic considering providing EV batteries to Subaru

Panasonic considering providing EV batteries to Subaru

Panasonic Holdings has started considering providing electric vehicle batteries to Subaru, the Nikkei reported on Friday.

The two companies are soon expected to announce the plan to ink a basic supply agreement of EV batteries, the report said.

The energy unit of Panasonic Holdings and Mazda Motor announced in June they also would start talks to set up a battery supply partnership for electric vehicles (EVs).

Panasonic, which supplies almost all of its EV batteries to Tesla, is seeking to increase global market as Chinese and South Korean competitors grow their presence, the Nikkei said.