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Tesla's prototype battery with 5 times more energy storage comes to life at Panasonic

The Japanese company revealed the prototype in an effort to fulfill Tesla's future battery dreams.

Tesla long promised big changes for its future batteries, and Panasonic hopes its latest prototype battery will deliver for the electric carmaker. On Monday, Automotive News reported on the Japanese company's new prototype battery created specifically for Tesla. It promises fives times more energy storage, which may increase ranges significantly.

In addition to more energy, the battery will cost 50% less to produce and help boost battery production at Panasonic "100-fold," by 2030, according to the report. These three elements could produce a game-changing battery pack for Tesla with a lower cost and more range at the core of EV adoption hurdles. Panasonic did not immediately return a request for comment and more information on the prototype battery. Tesla does not operate a public relations department to field requests for comment.

However, according to Automotive News, the move to building the prototype battery and making it a reality comes down to strengthening its ties with the EV maker. While Tesla has a long relationship with Panasonic, it's also begun forging supplier contracts with South Korea's LG Energy Solutions and China's CATL to produce lithium-iron-phosphate (LFP) batteries for its Standard Range models. Panasonic has no plans to build LFP units, a technology Tesla plans to embrace to create cheaper batteries for these cars. They're also kinder to the environment when it comes to sourcing fewer rare earth materials.