Panasonic started mass production at EV battery plant in US

Panasonic started mass production at EV battery plant in US. A subsidiary of Japanese electronics giant Panasonic Holdings has started mass producing EV batteries at a factory in the US state of Kansas.

Panasonic Energy held a ceremony on Monday. The company has invested 4 billion dollars to build the plant, its second in the US. The facility’s annual output capacity is expected to be enough to power 450,000 electric vehicles. There are plans to hire up to 4,000 workers.

But the full production that was initially targeted by the end of March 2027 has been effectively postponed. That’s partly due to falling sales at the company’s key customer, Tesla.  Another unfavorable factor for Panasonic is that US tax breaks for EV purchases are set to expire in September. This will likely mean a challenging business climate just as the company is trying to diversify its customer base.