U.S. markets closed
  • S&P 500

    4,140.06
    -5.13 (-0.12%)
     
  • Dow 30

    32,832.54
    +29.04 (+0.09%)
     
  • Nasdaq

    12,644.46
    -13.14 (-0.10%)
     
  • Russell 2000

    1,941.21
    +19.39 (+1.01%)
     
  • Crude Oil

    90.49
    -0.27 (-0.30%)
     
  • Gold

    1,804.80
    -0.40 (-0.02%)
     
  • Silver

    20.69
    +0.08 (+0.37%)
     
  • EUR/USD

    1.0201
    +0.0006 (+0.06%)
     
  • 10-Yr Bond

    2.7650
    -0.0750 (-2.64%)
     
  • GBP/USD

    1.2086
    +0.0004 (+0.03%)
     
  • USD/JPY

    134.9330
    -0.0400 (-0.03%)
     
  • BTC-USD

    23,879.16
    +726.78 (+3.14%)
     
  • CMC Crypto 200

    559.83
    +16.96 (+3.12%)
     
  • FTSE 100

    7,482.37
    +42.63 (+0.57%)
     
  • Nikkei 225

    28,249.24
    +73.34 (+0.26%)
     

Panasonic to build EV battery plant for Tesla in Kansas -Nikkei

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

July 13 (Reuters) - Panasonic Holdings Corp will invest several billion dollars in a factory in Kansas to supply a new high-capacity battery for Tesla's electric vehicles, Nikkei reported https://s.nikkei.com/3c4Fr45 on Wednesday.

The Japanese conglomerate aims to triple or quadruple EV battery production capacity by fiscal 2028 from the current level of roughly 50 gigawatt-hours per year, according to the report.

Earlier in June, Reuters reported Panasonic was looking at potential factory sites in Kansas and Oklahoma to supply batteries to the U.S. electric automaker's plant in Texas.

Panasonic already has a factory in Nevada that supplies smaller batteries to Tesla.

Panasonic and Tesla did not immediately respond to Reuters' requests for comment. Kansas and Oklahoma government officials were not immediately available for comment.

The company, which is Tesla's battery supplier for more than a decade, also said it had shipped samples of its more powerful 4680 format battery to the electric-car maker.

The new battery is about five times bigger than those that Panasonic currently supplies, meaning the U.S. electric automaker could be able to lower production costs and boost vehicles' driving range. (Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva)