Panasonic, Kansas Plan $4 Billion EV Battery Plant
Panasonic Group’s lithium-ion batteries company Panasonic Energy announced today an agreement with the state of Kansas, which would make the state the location for a proposed $4 billion US-based lithium-ion battery manufacturing plant.
The announcement comes as demand for EV battery capacity in North America is set to ramp rapidly over the next several years, as automotive companies plan to significantly transition their fleets. Automotive leaders GM, Ford, and Stellantis have each announced significant investment plans in EV capacity. The Biden administration signed an executive order last year mandating that zero-emissions vehicles make up half of new vehicle sales in the U.S. by 2030, and in March this year, the administration allocated billions in funding to support domestic battery production, supply chain development, and recycling
Kazuo Tadanobu, President, and CEO of Panasonic Energy Co, said:
“With the increased electrification of the automotive market, expanding battery production in the US is critical to help meet demand. Given our leading technology and depth of experience, we aim to continue driving growth of the lithium-ion battery industry and accelerating towards a net-zero emissions future.”
Kansas has approved an application by Panasonic under its incentive program, Attracting Powerful Economic Expansion (APEX), established by the state to attract investment, and available to companies within specific industries that agree to invest at least $1 billion.
Kansas Governor Laura Kelly said:
“This project will be transformative for the Kansas economy, providing high-quality, high-tech jobs while bringing a new industry to the state that is forging a more sustainable future. This is a significant milestone for Kansas that is sure to drive economic growth and development.”
The project, which would be located in the city of De Soto, is expected to result in an investment of approximately $4 billion, and create up to 4,000 new jobs.
Kris Takamoto, Executive Vice President of Panasonic Energy Co., Ltd., Head of EV Battery Business, said:
“We appreciate Kansas’s dedication to sustainability and its commitment to and growth in the clean and renewable energy space.”