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Panasonic considers building EV battery plant in Oklahoma

AuthorMichael Elkins
Published 17/04/2023, 18:38
© Reuters.
TSLA
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PCRFY
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By Michael Elkins

Tesla (NASDAQ:TSLA) battery supplier, Panasonic (OTC:PCRFY), said on Sunday that the Japanese company is considering building a battery plant in Oklahoma, its third in the United States.

"Panasonic has entered into an agreement with the State of Oklahoma that defines the eligibility and terms of the incentives under Oklahoma's LEAD Act," the company said in an emailed statement, referring to an incentive package the state has established to attract major companies to its MidAmerica Industrial Park in Pryor.

"There are no other specific decisions that have been made by the Company. We will share more information as it is available," the statement said.

Panasonic, in July, rejected Oklahoma as the site for its second EV battery plant, picking Kansas instead to make batteries for Tesla. State officials there said that investment of up to $4 billion will create up to 4,000 jobs.

Shares of TSLA are up 0.15% in mid-day trading on Monday.

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