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Panasonic to build $4bn EV battery plant for Tesla in U.S.

High-capacity 4680 cells to help Japan maker compete with China, South Korea

Tesla's steadily rising sales are fueling demand for electric-vehicle batteries.   © Reuters

OSAKA -- Panasonic Holdings will invest $4 billion in a second U.S. electric vehicle battery factory in Kansas, its subsidiary Panasonic Energy announced on Thursday, confirming an earlier Nikkei report. The factory is expected to hire as many as 4,000 employees and supply a new high-capacity battery for Tesla.

The decision follows Tesla's April opening of a second American EV factory in Texas to meet brisk demand.

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