Japan’s Panasonic Holdings, a leading battery supplier to electric vehicle manufacturer Tesla, has announced that it is considering the possibility of building a battery plant in Oklahoma, which could be its third facility in the United States. In a statement, Panasonic mentioned that it has entered into an agreement with the State of Oklahoma, referring to the incentives provided under Oklahoma’s LEAD Act to attract major companies to its MidAmerica Industrial Park in Pryor.
While no specific decisions have been made yet, Panasonic’s consideration of Oklahoma comes amidst the increasing demand for electric vehicles, with other automakers, including Stellantis and BMW, also in talks with the Japanese conglomerate about potential partnerships for battery production in North America, as reported by the Wall Street Journal earlier this month.
This move by Panasonic follows its decision in July to reject Oklahoma as the location for its second EV battery plant, opting for Kansas instead to manufacture batteries for Tesla. The investment of up to $4 billion in Kansas is expected to create thousands of jobs, according to state officials.
As more automakers focus on electric vehicles to meet rising consumer demand and stricter emission regulations, Panasonic’s potential expansion in Oklahoma could have significant implications for the EV battery market and the growing green economy.