Japanese electronics group Panasonic will build a new battery factory for Tesla. The group is investing a total of four billion dollars in the new headquarters and is also creating 4,000 new jobs.
Electronics group Panasonic will build a new battery factory together with electric car manufacturer Tesla. This time, the Japanese company chose the American state of Kansas as its new location. Another production plant is already located in Nevada.
Just like a news agency Reuters Panasonic is investing a total of four billion US dollars in the new battery factory. In addition, the construction of the new campus is expected to create up to 4,000 jobs.
Panasonic’s battery factory wants to supply Tesla with bigger batteries
According to Tesla CEO Elon Musk, the vehicle manufacturer is having trouble starting up its own battery production. Therefore, the production of cars is limited. He described the Tesla factories in Texas and Berlin as gigantic money incinerators that will lose billions of dollars.
Panasonic’s new battery factory is set to fix this in the future. Production also aims to supply Tesla with a larger battery, known as the Model 4680.
“With the increasing electrification of the automotive market, expanding battery production in the United States is essential to meet demand,” said Kazuo Tadanobu, president of Panasonic Energy.
Panasonic has not yet made any specific decisions about how many batteries will be produced at the new factory and how many employees will be hired.
Other manufacturers are building battery factories in the US
Other battery manufacturers also want to expand production in the US. According to Reuters, this is part of an industry trend aimed at managing the expected growth of electric cars. In addition, dependence on manufacturing in China and related risks in the supply chain should be reduced.
But for Panasonic, it also means stronger competition – even with Tesla in mind. Because although the electric car maker has already built a factory in Nevada together with the Japanese group, expanded the supply network Chinese and Korean battery manufacturers.
However, the Japanese electronics group does not want to limit itself to manufacturing exclusively for Tesla. At the same time, the new headquarters in Kansas will also have a research department that will focus on the production of new generation batteries.
By 2029, Panasonic intends to increase its battery production capacity three to four times. Most of the expansion will come from North America.