Panasonic Sees Potential for Another EV Battery Plant in US (2024)

FAQs

Does Tesla still buy batteries from Panasonic? ›

Yes, currently Panasonic is the only supplier for Tesla's Lithium ion batteries. But, Tesla CEO Elon Musk wrote on Twitter that cell production for its so-called Gigafactory in Shanghai "will be sourced locally, most likely from several companies," including Panasonic.

Overhung with cranes and buzzing with over a thousand workers, the plant is being built by Panasonic Energy, a Japanese maker of batteries for electric vehicles and a major supplier to Tesla.

2, 2023, near De Soto, Kansas in Johnson County. The 4.7 million-square-foot battery plant is under construction on the site of the former Sunflower Army Ammunition Plant and hopes to begin production in March 2025.

Panasonic Energy has a plant in Nevada and has broken ground on a second one in Kansas. In December it said Oklahoma - where it was previously exploring building a factory - was no longer a candidate site. The unit expects the Kansas plant to take its annual auto battery capacity to 80 gigawatt hours (GWh) a year.

A new electric vehicle battery factory in Kansas will require so much energy that a coal plant slated for closure will now remain open, plus it will be expanded. Panasonic is building a $4 billion EV battery factory in De Soto, Kansas.

Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010, for about 2.4 billion yen ($21.65 million). After a five-for-one stock split in 2020, the stock is now worth $679.82 apiece.

This supply agreement helps ensure Tesla will meet its cost and margin targets for Model S. This agreement builds upon a multi-year collaboration between Panasonic and Tesla to develop next-generation automotive-grade battery cells and accelerate the market expansion of electric vehicles.

At the end of 2021, Tesla inked a fresh three year lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The Chinese company will provide products to Tesla for three years starting in 2022.

Panasonic Electric Works (PEWIN), a subsidiary of Panasonic Corporation, is aiming to triple its revenue to over Rs 15,500 crore by 2030. The company plans to transform India into an export hub, focusing on West Asia, SAARC, and African countries.

CATL continues to maintain a significant lead in battery manufacturing both globally and within China, the largest electric vehicle (EV) market in the world. As of November 2023, CATL's share of the global EV battery market increased to 37.4%, up from 36.9% in October, according to data from SNE Research Inc.

Where does Panasonic make its batteries for Tesla? ›

Panasonic, which has a plant in Nevada, is currently building a new factory of 2170-type cells for EVs in De Soto, Kansas, its second in North America. The plant is a $4 billion project with an initial output of 30 GWh/year.

The $5.8 billion project, the largest in Kentucky history, is a joint venture between Ford Motor Co. and South Korean partner SK On, and is expected to employ 5,000 people once it's fully up and running.

Panasonic Energy selected a joint venture team of Turner Construction Company and Yates Construction to build its $4 billion EV battery manufacturing facility in De Soto, Kansas, according to a company press release.

Forge is part of North Carolina's expanding Battery Belt

At least four companies have announced plans for battery factories in central North Carolina: DAI Nippon Printing, Forge Nano, Toyota and VinFast. Specifically, Vietnamese automaker VinFast will build EVs in Chatham County, with plans to add a battery plant.

The plant will be located at the same 686-acre site in New Carlisle, which is about 15 miles west of South Bend, that had initially been considered in August 2022 for Ultium Cells LLC, which is GM's joint venture with LG Energy Solution.

The joint GM and Samsung SDI plant near New Carlisle, Indiana aims to have an annual production capacity of 30 gigawatt hours (GWh). The plant will produce high-nickel prismatic and cylindrical battery cells.

In Spring, 2025, Panasonic Energy North American will open a 300-acre manufacturing facility in De Soto at Astra Enterprise Park.