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A leading supplier of electric vehicle batteries to Tesla and other automakers is looking to establish a new, multi-billion dollar factory in the U.S.
Bloomberg reports that Panasonic is conducting early-stage talks about possible locations for a new production site for its next-generation lithium-ion vehicle batteries, including options in Kansas and Oklahoma.
Panasonic has long supplied batteries to EV pioneer Tesla, but the Japanese company hasn’t expanded on the scale of its battery rivals, including Korean company and GM partner LG Energy Solution.
The new facility, according to the report, would produce a newly developed battery known as “4680,” which would be bigger and more powerful than previous EV batteries. Because it would require fewer cells and other parts, Tesla CEO Elon Musk has predicted that the technology could enable Tesla EVs that start at around $25,000.
The prospective sites in the Great Plains region, the report noted, would be near Tesla’s new gigafactory in Austin, Texas.
Although the talks are in the preliminary stage and a decision on a site doesn’t appear to be close, officials indicated that the facility could begin operations as soon as 2024. The venture could hinge on the initial production of the 4680, which is slated to begin in Japan earlier that year.
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