Japanese battery maker Panasonic is planning to buy land in the US to build a “mega-factory” that will make 4680 lithium-ion cells for electric vehicle (EV) OEM Tesla, according to Japan’s public broadcaster Nippon Hōsō Kyōkai (NHK).
The media outlet quoted unnamed sources that said Panasonic was looking to buy land either in Oklahoma or Kansas and invest “several billion dollars” to build the factory.
Last week, BEST reported how Panasonic was set to begin mass production of 4680 lithium-ion batteries for Tesla within two years by adding capacity at its factory in Wakayama Prefecture, western Japan.
Panasonic has been a long-term collaborator with Tesla, and makes batteries at the latter’s Nevada, US gigafactory.
Oklahoma borders Texas, the US state where Tesla is reportedly prepared to spend $1 billion on a new EV manufacturing plant.
In June 2020, Tesla signed a three-year pricing deal with Panasonic Corp relating to the manufacture and supply of 2170 lithium-ion battery cells manufactured at its gigafactory in Nevada.
Last July Panasonic sold its entire stake in the US electric vehicle OEM for almost $3.6 billion— after buying 1.4 million Tesla shares for about $30 million in 2010— reported Japanese business news outlet Nikkei.
