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Tesla Inc NASDAQ:TSLA NASDAQ Common Stock
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  1.49 0.63% 239.62 239.55 239.74 159,448 10:56:07

Panasonic Plans EV Battery Factory in Kansas to Supply Tesla-Nikkei Asia Reports

13/07/2022 7:02pm

Dow Jones News


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--Panasonic Holdings Corp. has chosen to invest several billion dollars in an electric vehicle battery factory in Kansas, which will supply batteries for Tesla Inc., Nikkei Asia reported.

--Oklahoma was also under consideration for the plant, which will produce new high-capacity 4680 cells, Nikkei reported.

--Panasonic chose the site of the new facility because of its proximity to Texas, where Tesla opened a factory in Austin earlier this year, as well as its favorable tax environment, Nikkei reported.

--Panasonic's first U.S. plant is in Nevada at Tesla's original "gigafactory." The Japanese company invested roughly 200 billion yen in that facility, Nikkei said.

--Panasonic representatives didn't immediately return requests for comment to Dow Jones Newswires.

Full story: https://asia.nikkei.com/Business/Automobiles/Panasonic-to-build-EV-battery-plant-for-Tesla-in-U.S.-state-of-Kansas

 

Write to Kathryn Hardison at kathryn.hardison@wsj.com

 

(END) Dow Jones Newswires

July 13, 2022 13:47 ET (17:47 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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