DE SOTO, KANSAS - Panasonic (OTC:PCRFY) Corporation is advancing its plans to construct a $4 billion lithium-ion battery manufacturing facility in De Soto, Kansas, with production slated to commence in early 2025. This strategic move is set to bolster the company's battery production capacity and is anticipated to generate around 4,000 new jobs in the area that spans across 4.7 million square feet. The state-supported project with $1 billion economic incentives.
The De Soto plant forms a critical component of Panasonic's larger ambition to scale up its manufacturing presence in the United States and to stay competitive in the global battery market. The facility is being established in response to the growing market demand for lithium-ion batteries, which are essential for powering electric vehicles and supporting the transition to renewable energy sources.
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