Panasonic is considering another significant investment as US automakers continue to scramble to keep up with consumer demand for EVs.
According to reports by the Wall Street Journal, Reuters, and Bloomberg, Panasonic is considering an additional US-based EV battery plant.
The potential new $4 billion facility could be built in either Oklahoma or Kansas.
Panasonic confirmed that they would open the first plant in Kansas in July.
So, if we were betting, it would look like Oklahoma would be a realistic option for the EV battery maker.
However, at this point, Panasonic has not confirmed any of the rumours.
Panasonic, of course, is currently vying for a position in the North American space.
Currently, the Japanese-based company has a joint project with Tesla at Giga Nevada and provides Tesla with cells.
Tesla is the primary battery customer for Panasonic, with rumours of Toyota being second on the list.
However, with bZ4x issues plaguing Toyota, we are not sure who else Panasonic is working with at the moment.
According to Reuters reporting, a Panasonic spokesperson noted:
We are examining various growth strategies for our automotive battery business, but there is no further information that we can share at the moment aside from what we have already announced.
This move does not come as a surprise, with several companies opening or looking to open factories in the US.
Major players such as LG Energy Solutions, CATL, SK Innovation and Samsung SDI have already opened factories or are looking at potential sites.