Panasonic evaluating choices of U.S. state for battery plant

Japan’s Panasonic Holdings Corp, which makes batteries for electric car maker Tesla, is evaluating which U.S. state it will choose as the site for a new battery plant, a top executive said on Friday.

We’ve been making various considerations, but we are starting to evaluate,” said Panasonic Energy Chief Executive Officer Kazuo Tadanobu, speaking to reporters during a round table event. No decision had been made yet, he added.

Panasonic said mass production of the new battery is set to begin before the end of March 2024 at its plant in Wakayama, western Japan, before production is moved to North America.

The Japanese company has partnered with Tesla for more than a decade, supplying batteries for its first cars.

Since then, the electric automaker has diversified supply chain and brought in other firms such as China’s Contemporary Amperex Technology Co (CATL) and South Korea’s LG Energy Solution.

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