Latest News

Dow Jones Newswires: Panasonic Energy set to build $4 billion EV battery factory in Kansas

Panasonic Energy Co. said Wednesday a proposed lithium-ion battery factory is coming to Kansas, pending the company’s board approval.

The Panasonic Group company
6752,
-0.18%

said a state incentive application submitted to Kansas was approved.

The company said the project could create up to 4,000 new jobs and result in an investment of about $4 billion. Panasonic said it has identified a site in De Soto, Kansas, for the potential project.

Nikkei Asia reported earlier Wednesday that the company chose Kansas to supply a new high-capacity battery for Tesla Inc. The report said Panasonic chose the site of the new facility because of its proximity to Texas, where Tesla opened a factory in Austin earlier this year, as well as its favorable tax environment.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:Latest News

Leave a reply

Your email address will not be published. Required fields are marked *