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The state of Kansas has approved an economic expansion incentive application submitted by Panasonic Energy for a U.S.-based lithium-ion battery manufacturing facility, pending approval by Panasonic Holdings Corp., according to a press release.
Panasonic Energy plans to develop the project at a property in DeSoto, Kansas, which is expected to drive economic activity and opportunities for the local economy and could create up to 4,000 jobs and result in an investment of approximately $4 billion.
«This project will be transformative for the Kansas economy, providing high-quality, high-tech jobs while bringing a new industry to the state that is forging a more sustainable future,» Gov. Laura Kelly said in the press release.
«With the increased electrification of the automotive market, expanding battery production in the U.S. is critical to help meet demand,» said Kazuo Tadanobu, president and CEO of Panasonic Energy.
The announcement comes five years after Panasonic Group began production of lithium-ion batteries at Panasonic Energy of North America in Sparks, Nevada.