Panasonic eyes Oklahoma for next EV battery factory – TechCrunch

Panasonic is considering Oklahoma as the location for its next lithium-ion battery factory, according to a report published Friday by The Wall Street Journal.

The proposed venture, which is expected to provide Tesla with a large-capacity, range-increasing battery, is part of a move to bring auto manufacturing back to earth as automakers and suppliers try to dampen inflation , geopolitical conflicts and the shortage of raw materials. needed to manufacture electric vehicles.

TechCrunch is seeking independent confirmation and will update if more information becomes available.

Panasonic is working on a battery that should quintuple the energy capacity, increase autonomy by more than 15% and reduce production costs.

In July, the Japanese electronics maker announced plans to build a $4 billion battery plant in Kansas that will manufacture and supply lithium-ion batteries to electric vehicle makers. The project, which represents the largest economic development project in Kansas history, is expected to be larger than the Gigafactory it operates with Tesla in Sparks, Nevada, which is already one of the largest lithium battery factories. -ion ​​to the world.

Automakers and suppliers have announced more than $38 billion in investments through 2026 to boost battery production in the United States, according to AlixPartners.

Picture credits: AlixPartners

These projects, which will not begin production until the middle of the decade, include the largest economic development projects ever in North Carolina and Georgia. A number of other electric vehicle factories dot the southern and plains states, such as Tennessee and Oklahoma.

Toyota’s first battery plant in the United States – the $1.3 billion plant near Greensboro, North Carolina – is set to open in 2025. Hyundai is investing $5.5 billion to build a plant of electric vehicle and battery manufacturing in Georgia. Rivian is also building a $5 billion factory in Georgia, and newcomer Canoo, which has moved its headquarters to Bentonville, Arkansas, plans to build an electric vehicle factory in Oklahoma. VW’s all-electric ID.4 is currently being assembled at its factory in Chattanooga, Tennessee.

Shortening the supply chain will ultimately help manufacturers control costs and reduce dependence on foreign sources for raw materials. The Inflation Reduction Act passed by Congress this month is expected to accelerate the development of the domestic electric vehicle industry by providing manufacturers with $40 billion in tax credits.

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