Panasonic in negotiations for $4 billion battery plant in USA

A Kansas battery factory is presently authorized, nevertheless Panasonic wants to establish one more plant on US soil.

Battery maker, Panasonic, is reportedly conducting discussions to build a third electric vehicle battery plant in the US.

The Japanese business presently jointly operates a battery plant with Tesla in Nevada, and has gotten approval to build a secondary battery plant in Kansas. However, as The Wall Street Journal The Wall Street Journal says, many people knowledgeable about the situation feel Panasonic would like to construct a third manufacturing facility, and also desires to invest yet another $4 billion in the process.

Easily the most likely place for this third manufacturing plant is Oklahoma, and it would function as a counterpart to the Kansas plant. Each would manufacture new EV batteries at the same rate to keep up with multiplying demand for the cars. The Kansas facility is likewise predicted to be priced at $4 billion and also make 8,000 jobs while doing so. Oklahoma would without a doubt take pleasure in a comparable boost to local employment if the new factory gets the green light.

Meanwhile, no one is commenting, including Oklahoma Gov. Kevin Stitt. Having said that, it's worth taking note that EV startup Canoo is readying to start off manufacturing vehicles at a factory in Oklahoma, and also the company signed a battery supply deal with Panasonic in 2021. Canoo is additionally set to supply Walmart with 4,500 all-electric delivery vehicles next year.

Back in February, Panasonic disclosed that it would begin mass production of Tesla's new 4680 battery by the end of March 2024. Having said that, that production is planned for all new lines at the company's Wakayama factory within Japan.

The new facility in Kansas, and now likely Oklahoma, would likely additionally produce the 4680 batteries when they come online, which Tesla announces are vital if we want EVs that sell for $25,000 or less.