Panasonic is considering building an EV battery plant in the US for Tesla

Panasonic is reportedly considering building a new EV battery plant in the United States to provide battery packs for Tesla.

According to reporting by Nikkei, the Japan-based company is considering multiple sites, including one in Oklahoma. The sources did not provide specific locations, or the other options. However, previous reports named Oklahoma and Kansas.

Panasonic did not decide on a final location yet, but they are weighing options.

Naturally, the company is considering the proximity to Giga Texas and the types subsidies and support measures from local and state governments.

The final decision will come down to the profitability of the company’s new lithium-ion batteries, which are starting production in 2023 in Panasonic’s Wakayama, Japan plant.

Panasonic aims to supply Tesla’s new Cybertruck and the next generation of Tesla vehicles coming out of Giga Texas. However, unlike their other plant in the US, Panasonic plans to operate this new facility independently.

Pansonic and Tesla jointly run a battery plant at Giga Nevada. The battery plant produces around 39 gigawatt-hours a year after its latest expansion.

The second potential plant would have a similar scale as per the sources.

If the batteries are profitable, the company hopes to open their US plant in the 2024 fiscal year.

Tesla nor Panasonic confirmed the rumours of the plant. Nor did Panasonic confirm the location or if there were any other locations the company was considering.

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