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Panasonic looking at 3 U.S. states for big EV battery spending

Japanese company eyes new factory in Oklahoma, expansion in Kansas or Nevada

Panasonic looks to benefit from state and federal subsidies to manufacture lithium-ion batteries in the U.S. (Photo by Yo Inoue)

TOKYO -- Panasonic Holdings is considering Oklahoma and two other U.S. states for a major investment as it plans to boost production of electric vehicle batteries in the country.

The Japanese group signed an agreement with Oklahoma outlining an incentives package, Gov. Kevin Stitt said Friday, should Panasonic build its third U.S.-based plant in the state. Stitt told local media that Panasonic's investment would amount to $5 billion.

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