Panasonic to Supply EV Batteries to Subaru

Panasonic Holdings has begun to consider providing electric vehicle batteries to Subaru, according to a source on July 28.

According to the report, the two companies are soon to announce their intention to sign a basic supply agreement for EV batteries.

Panasonic Holdings' energy unit and Mazda Motor announced in June that they would begin discussions to form a battery supply partnership for electric vehicles (EVs).

According to the source, Panasonic, which supplies almost all of Tesla's EV batteries, is looking to expand its global market presence as Chinese and South Korean competitors expand their presence.