Panasonic says Oklahoma is no longer a viable choice for a new battery plant

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Panasonic says Oklahoma is no longer a viable choice for a new battery plant
Panasonic says Oklahoma is no longer a viable choice for a new battery plant

Panasonic Holdings subsidiary Panasonic Energy declared that Oklahoma was no longer a candidate for a new electric vehicle battery manufacturing

Panasonic Holdings (6752.T) subsidiary Panasonic Energy announced on Wednesday that Oklahoma was no longer a candidate for a new electric vehicle battery factory in the United States.

The decision by Tesla’s (TSLA.O) battery supplier comes after the firm announced in April that it was exploring building a plant in Oklahoma, its third in the United States.

“After careful consideration, we have decided not to proceed with the development of the site,” Panasonic Energy stated.

According to the statement, “this decision will have no effect on our operations in Nevada or Kansas.”

The company also stated that it has made a “long-term commitment to investing in and advancing the EV industry in the United States” in order to offer high-quality batteries.

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