Panasonic plans additional US$4bil EV battery plant in US

Panasonic plans additional US$4bil EV battery plant in US

It's considering Kansas and Oklahoma industrial sites to supply Tesla's Texas operation.

TOKYO:
Panasonic Holdings Corp, a supplier to electric-car maker Tesla Inc, is in talks to build an additional electric vehicle (EV) battery plant in the US at a cost of around US$4 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Panasonic is looking at Oklahoma as the location for its new plant, the newspaper said.

In July, Panasonic selected Kansas over Oklahoma as the site for a new battery plant that state officials said would create up to 4,000 jobs with an investment of up to US$4 billion.

The Japanese conglomerate also said it was looking at potential factory sites in Kansas and Oklahoma to supply the batteries to Tesla’s plant in Texas.

The Japanese company has partnered with Tesla for more than a decade, supplying batteries for its first cars.

The auto industry has been ramping up production of EVs to meet a surge in demand, driving up orders for batteries and raw materials such as lithium and cobalt, among others.

Panasonic and Tesla did not immediately respond to a Reuters request for comment.

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