Japan's Panasonic Holdings said on Monday it will start building a new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America's fast-growing market for electric vehicles.
The conglomerate's energy unit, which supplies batteries to Tesla, said in July it had picked Kansas as the site for a new plant to supply batteries primarily to Tesla, joining other battery suppliers planning massive U.S. investments to qualify for new EV tax credit rules and to meet potentially massive demand there.
Panasonic said in a statement that it expects initial production capacity of 30 gigawatt hours.