Japan’s Panasonic Corp (OTC: PCRFY) is planning to build a large U.S. plant to produce a new type of electric vehicle battery for its key customer Tesla Inc (NASDAQ: TSLA), Japanese state broadcaster NHK reported on Friday, citing unnamed sources.
What Happened: Osaka-based Panasonic is looking for land in Oklahoma or Kansas and aims to pump in several billion dollars to mass-produce new high-capacity lithium-ion batteries, according to NHK.
