PCRFY Panasonic Holdings Corporation (PK)

--Panasonic Holdings Corp. has chosen to invest several billion dollars in an electric vehicle battery factory in Kansas, which will supply batteries for Tesla Inc., Nikkei Asia reported.

--Oklahoma was also under consideration for the plant, which will produce new high-capacity 4680 cells, Nikkei reported.

--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, Nikkei reported.

--Panasonic's first U.S. plant is in Nevada at Tesla's original "gigafactory." The Japanese company invested roughly 200 billion yen in that facility, Nikkei said.

--Panasonic representatives didn't immediately return requests for comment to Dow Jones Newswires.

Full story: https://asia.nikkei.com/Business/Automobiles/Panasonic-to-build-EV-battery-plant-for-Tesla-in-U.S.-state-of-Kansas

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

July 13, 2022 13:47 ET (17:47 GMT)

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