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Panasonic Plans $4 Billion EV Battery Plant in U.S.

Panasonic, one of Tesla’s most important suppliers, is in talks to build a roughly $4 billion EV battery plant in Oklahoma!

Panasonic Holdings Corp., a supplier to electric-vehicle maker Tesla Inc is in discussions to build an additional roughly $4 billion EV battery plant in the U.S., according to WSJ

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The Japanese company is looking at Oklahoma as the location for its new plant,

EV makers including Tesla are boosting production volume and demanding more batteries from suppliers as they try to reduce long wait times for many popular EV models.

  • Panasonic already jointly operates a battery factory in Nevada with Tesla.

Panasonic’s cilindrical 4680 battery, so called because it is 46 millimeters in diameter and 80 millimeters high, is larger and more powerful than its previous EV batteries and could improve the economics of EVs. The company is set to start trial production of its 4680 battery this year in Japan.

  • Mr. Musk has called the 4680 technology the “world’s most advanced cells.” Tesla is working on its own 4680 cells.

The new Panasonic plant would come in addition to a roughly $4 billion EV battery factory that the Japanese company said in July it plans to build in Kansas.

People with knowledge of Panasonic’s plans described the two plants as twins with similar capacity.