Tokyo — As Elon Musk pushes out from his US, California base to make electric vehicles ubiquitous, a company half-way around the world and deep in the depths of the battery supply chain is riding his wake. Tanaka Chemical Corporation, which has a long history in developing battery materials, says it’s boosting output to meet surging demand for its materials for making cathodes. The Japan-based company, which has slightly more than 180 employees, plans to invest ¥500m ($4.54m) to boost output capacity by about 1,000 tonnes a year. While a relatively small investment, the new money flowing into battery components from Tanaka could be a precursor to even more spending from suppliers anticipating new electric car models on the road in the next three years, Mamoru Shimakawa, an executive officer at Tanaka, said in an interview. "Supply is exceeding demand right now as many cathode material makers had invested to boost capacity around 2008," Shimakawa said. "The industry will need more ca...
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