Tesla Supplier Eyes Additional $4B EV Battery Plant in US: Report

Tesla Inc TSLA supplier Panasonic Holdings Corp PCRFY discussed building an additional $4 billion EV battery plant in the U.S., the Wall Street Journal reports.
Panasonic eyed Oklahoma as the location for its new plant.
EV makers, including Tesla, boosted production volume and sought more batteries from suppliers to reduce long wait times for many popular EV models.
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Panasonic already jointly operates a battery factory in Nevada with Tesla.
The new Panasonic plant would come in addition to a $4 billion EV battery factory that it plans to build in Kansas.
In April, Tesla started delivering vehicles from its new EV factory in Austin, Texas.
Panasonic has said one of its priorities for the U.S. is commercializing a new type of lithium-ion battery touted by Tesla Chief Elon Musk as "the world's most advanced cell."
In April, the Oklahoma state Senate approved a bill that would grant up to $698 million in rebates and incentives to an extensive manufacturing facility operated by an unnamed company.
Earlier, Tesla supplier Contemporary Amperex Technology Co Ltd launched an EV battery 13% more potent than Tesla's 4680 battery to be made by Panasonic.
Price Action: TSLA shares traded lower by 041% at $294.85 in the premarket on the last check Friday.