Panasonic to build $4B electric vehicle battery plant in US

Japanese electronics giant Panasonic said Thursday it will spend $4 billion to build a new battery factory in the United States for electric vehicles.

The lithium-ion battery plant in Kansas could create up to 4,000 new jobs, Panasonic said, as the Tesla supplier drives to expand its presence.

“With the increased electrification of the automotive market, expanding battery production in the US is critical to help meet demand,” Kazuo Tadanobu, president and CEO of Panasonic Energy, said in a statement.

The factory will be Panasonic’s second electric car battery operation in the United States, joining its facility in Nevada.

The announcement comes with Tesla struggling to boost production, after unveiling two new factories in Germany and the US state of Texas earlier this year.

Panasonic’s decision was welcomed by Kansas Governor Laura Kelly as “transformative” for the local economy.

The new factory is expected to be located in De Soto, Kansas, though the move is subject to approval by Panasonic’s board.

The decision was also welcomed by US Ambassador to Japan Rahm Emanuel, who said the decision to be “one of the largest battery production sites for the next generation of electric vehicles” in Kansas was “a vote of confidence” in the US economy and its workers.— Agence France-Presse

Usapang Bilyonaryo
Bilyo-cnn-logo

Usapang Bilyonaryo” is a digital-first, hybrid magazine show hosted and produced by veteran broadcast journalist Ces Oreña-Drilon in cooperation with the Bilyonaryo.com team. The 30-minute TV cut airs on CNN Philippines at 8 PM every Monday, starting January 16. The full version or producer’s cut of each episode, as well as interview splices, will be posted on Bilyonaryo.com’s Youtube and Facebook accounts.

 

ub-rlc-mobile
In cooperation with
bilyoabryo-rlc-2

Brought to you in part by