Panasonic plans to build its third EV battery plant in the US

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Investments in the construction of the enterprise are estimated at $4 billion

According to The Wall Street Journal, Panasonic is in talks to build an electric vehicle battery plant in Oklahoma. Investments in construction are estimated at about 4 billion dollars.

Panasonic EV battery plant
Panasonic EV battery plant

“ The project to build a plant in Oklahoma could cost $4 billion. Electric vehicle manufacturers are ramping up capacity, which requires suppliers to increase battery output for the most popular models ,” notes The Wall Street Journal.

The publication adds that the Oklahoma plant will be in addition to another planned new Panasonic plant in Kansas. They are expected to have the same power.

According to the newspaper, Panasonic, which makes batteries for Tesla electric vehicles, already has a joint venture with Elon Musk’s battery company in Nevada. The new plants in Kansas and Oklahoma could be logistically convenient locations for deliveries to Tesla’s Texas plant.

Against the background of the fuel crisis and a strong increase in the cost of petroleum products, electric vehicles are gaining popularity in the United States. On July 13, a survey by the non-profit American Automobile Association showed that a quarter of people in the United States want to switch to electric cars due to rising gas prices.

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