HomeIndustriesPanasonic Considers Building EV Plant in Oklahoma

Panasonic Considers Building EV Plant in Oklahoma

Japanese electronics manufacturer Panasonic Holdings confirmed on Sunday that it is currently considering constructing an electric vehicle battery plant in Oklahoma; its third in the United States. The company is an EV battery supplier to Tesla, Inc.

Panasonic’s decision comes as sales for electric vehicles surge. In addition to Tesla, other EV makers are also looking to Panasonic as a potential battery supplier as they look to satisfy new levels of demand.

“Panasonic has entered into an agreement with the State of Oklahoma that defines the eligibility and terms of the incentives under Oklahoma’s LEAD Act,” the company confirmed in an email to Reuters. “There are no other specific decisions that have been made by the Company. We will share more information as it is available.”

This is the second time that the Japanese conglomerate has considered building a plant in Oklahoma. It previously considered doing so when building its second U.S.-based factory, however, it ultimately selected Kansas instead.

U.S. Offers Argentina Support on IMF Talks and Lithium

Juan Gonzalez, the adviser to U.S. President Joe Biden and the National Security Council's Western Hemisphere senior director, confirmed that a U.S. delegation offered...

Global Central Bankers Convene to Discuss Final Interest Rate Decisions of 2023

Central bankers from half of the Group of 10 territories with the most-traded currencies are set to convene to determine their final interest rate...

Inflation Expectations Sink to Lowest Level in Two Years

The latest consumer sentiment survey from the University of Michigan showed that U.S. consumers are expecting inflation to be 3.1% in a year; a...