Panasonic Eyes Building EV Battery Plant In Oklahoma: Report

Panasonic Holdings Corporation PCRFY reportedly plans to build a battery plant in Oklahoma to produce batteries for electric vehicles.
The new plant would become the Japanese manufacturer's third EV battery factory in the U.S., after Nevada and Kansas, Kyodo news agency reported, citing a source familiar with the plan.
However, the plot in Oklahoma is only one of the "candidate sites" for a new factory, and Panasonic "does not guarantee any investment."
For the deal, the Tesla, Inc. TSLA battery maker and the Oklahoma state government have inked a contractok under which the company would become eligible for a subsidy.
The Japanese company in July picked Kansas to make batteries for Tesla. State officials said that investment of up to $4 billion will create up to 4,000 jobs.
Although the Kansas plant has yet to start operation, the company plans to increase its production capacity for EV batteries to 150 to 200 gigawatts by fiscal 2028, equivalent to three to four times its current output capacity, the Kyodo news report added.
The development links to the Oklahoma state's incentive package to attract major companies to its MidAmerica Industrial Park in Pryor, Reuters reported.
Price Action: PCRFY shares traded lower by 0.22% at $9.28 on the last check Monday.
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