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Panasonic Corp is studying options for new electric car battery production with partner Tesla after the US carmaker unveiled a plan to expand output and halve the price of the key auto component, the Japanese firm said on Wednesday.

"We are considering a variety of options, but nothing has been determined at this time," a Panasonic spokeswoman said after Tesla Chief Executive Elon Musk outlined his plans in the closely watched "Battery Day" presentation.

"We value our relationship with Tesla and look forward to enhancing our partnership."