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Message: <blockquote data-quote="deanXX" data-source="post: 23261559" data-attributes="member: 492830"><p style="text-align: center">[ATTACH]72247[/ATTACH]</p><p></p><p></p><p><span style="font-size: 10px"><span style="color: Black"><strong>Panasonic Corp, a battery cell supplier to electric carmaker Tesla, said on Wednesday that it aims to develop automotive batteries that do not involve the use of cobalt. </strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>The Japanese technology giant plans to cut down on cobalt usage due to soaring prices of the mineral, Reuters reports.</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>“We have already cut down cobalt usage substantially,” Kenji Tamura, who is in charge of Panasonic’s automotive battery business, was quoted as saying at a meeting with analysts.</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>“We are aiming to achieve zero usage in the near future, and development is underway.”</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>Top battery makers are scrambling to reduce cobalt content in lithium-ion batteries as prices of the mineral have multiplied over the recent years, with supply shortage fears adding to the problem.</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>Panasonic is the exclusive battery cell supplier for Tesla’s mass-market Model 3 sedan, producing the cells at a joint-venture facility in Nevada.</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong>In addition to the effort to reduce rare mineral content in its batteries, Panasonic is also trying to sign contracts with clients “in a way that allows the company to hedge risks of surging prices of the materials,” said Yoshio Ito, the chief of Panasonic’s automotive business.</strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong></strong></span></span></p><p><span style="font-size: 10px"><span style="color: Black"><strong><a href="https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OCABS" target="_blank">REUTERS</a></strong></span></span></p></blockquote><p></p>

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