Panasonic to invest up to $4 bil. on new EV battery factory in U.S.

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Kyodo News

The battery manufacturing unit of Panasonic Holdings Corp. said Thursday it plans to build a new facility specializing in the production of electric vehicle batteries in the U.S. state of Kansas, an investment expected to reach up to around $4 billion. The Panasonic Energy Co. project, which will use an incentive approved by the Kansas state government, reflects rapidly growing demand for EVs amid a global push to reduce carbon dioxide emissions. The company expects to supply the batteries to U.S. EV manufacturing giant Tesla Inc. The Osaka Prefecture-based company said it hopes to create up t…

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