Panasonic to build $4bn battery plant in US to meet Tesla demand

Panasonic to build $4bn battery plant in US to meet Tesla demand

Panasonic will build a $4 billion electric vehicle battery plant in the United States.

Japanese electronics company Panasonic said on Thursday it would spend $4 billion to build a new battery factory for electric vehicles in the United States.

Panasonic management said the lithium-ion battery plant in Kansas could create 4,000 new jobs, as the Tesla supplier moves to expand its presence.

Kazuo Tadanobu, President and CEO of Panasonic Energy, said in a statement: “With the growing power of the automotive market, increasing battery production in the United States is critical to helping meet demand.”

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The announcement comes after the unveiling of two new factories in Germany and the US state of Texas earlier this year, in a bid to boost Tesla’s production.

A good step towards change

Panasonic’s decision was welcomed by Kansas Governor Laura Kelly as a “transformation” for the local economy.

The new factory is expected to be located in De Soto, Kansas, although the move is subject to Panasonic’s board approval.

The decision was also welcomed by US Ambassador to Japan Raheem Emmanuel, who called Kansas “a vote of confidence” in the US economy to be “one of the largest battery production sites for the next generation of electric vehicles.” Workers

The second largest electric car battery operation

The plant will be Panasonic’s second electric car battery operation in the United States, to be added to its facility in Nevada.