Panasonic to Build $4 Billion EV Battery Factory in Kansas

Japan’s Panasonic is set to build a $4 billion battery plant in Kansas. The plant is aimed to supply electric vehicle (EV) maker Tesla with a new high capacity battery. It will increase Panasonic’s production capacity by 2028 from the current level of 50  gigawatt-hours (GWh) per year to between 150 and 200 GWh.

Panasonic, the world’s third biggest battery producer behind China’s CATL and South Korea’s LG Energy Solution, already operates a $5 billion plant in Nevada with Tesla.

One of the primary reasons Panasonic picked Kansas for the site of the new facility is because of its proximity to Texas, where Tesla moved its headquarters last year.

The factory is expected to hire as many as 4,000 employees and include a facility for research in next-generation 4680 battery, which Panasonic plans to mass produce from 2023.

Panasonic Energy President and CEO Tadanobu said with the increased electrification of the automotive market, it was crucial for the company to expand U.S. battery production in order to meet growing demand.

Tadanobu added that the company was aiming to continue driving growth of the lithium-ion battery industry and accelerating towards a net-zero emissions future.

The newly planned plant is part of Panasonic’s push to increase investment in EV cell production, a segment the 104-year-old Japanese electronics giant sees as critical for future growth.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

EU-Gazprom Tensions Rise Over Record Gas Prices

As Europe’s gas prices continue to reach record levels, some European political circles question Gazprom’s commitment to supply Russian gas to the continent and ease the pain. Gazprom says it’s been fulfilling its contract obligations, which Europe’s gas firms confirm. European gas prices have increased six folds this year amid rising demand from Asia as economies start to recover from the pandemic. 

Ontario’s Hydro One Hunts New Acquisitions to Consolidate Electricity Market

Hydro One Ltd., Ontario’s largest electricity distributor, looks for acquisition opportunities to expand its customer base and consolidate a highly fragmented industry. The amount of acquisitions could total roughly C$500 million ($397 million). As an effort to lower customers’ electricity bills, the Government of Ontario encourages Hydro One’s goal of increasing its customers through acquisition. 

Britain, EU Announce New Sanctions on Russia

The European Union and Britain have announced latest wave of sanctions against Russia, targeting its companies and elites, as the Western powers keep pressure on Kremlin following its invasion of Ukraine.  

Stay informed

error: This content is protected !!