Panasonic May Build EV Battery Plant in Oklahoma

    Panasonic Holdings (6752.T) of Japan, a supplier of batteries to Tesla Inc (TSLA.O), said on Sunday it was considering building its third battery plant in the United States in Oklahoma.

    The company said in an email to Reuters that it had entered into an agreement to define the terms and eligibility of incentives offered under Oklahoma’s LEAD Act. This is a package of incentives the state offers to lure major companies to the Mid America Industrial Park, located in Pryor.

    The Company has not taken any other specific decisions. The statement stated that we will provide more information when it becomes available.

    The decision by Panasonic to consider Oklahoma was first reported by Kyodo News Agency. Other EV makers, including long-time Tesla customer, are also looking at the Japanese conglomerate for a potential battery supplier.

    The Wall Street Journal reported that Panasonic has been in discussions with Stellantis (STLAM.MI)., and BMW (BMWG.DE), regarding the construction of a new electric vehicle plant in North America.

    In July, the Japanese company rejected Oklahoma for its second EV plant and chose Kansas to produce batteries for Tesla. Officials from the state said that an investment of up $4 billion could create up to 4,040 jobs.

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