- Tesla Inc (NASDAQ:TSLA) supplier Panasonic Holdings Corp (OTC:PCRFY) discussed building an additional $4 billion EV battery plant in the U.S., the Wall Street Journal reports.
- Panasonic eyed Oklahoma as the location for its new plant.
- EV makers, including Tesla, boosted production volume and sought more batteries from suppliers to reduce long wait times for many popular EV models.
- Also Read: Another Player Goes Aggressive On EV Charging Market Thanks To Tesla
- Panasonic already jointly operates a battery factory in Nevada with Tesla.
- The new Panasonic plant would come in addition to a $4 billion EV battery factory that it plans to build in Kansas.
- In April, Tesla started delivering vehicles from its new EV factory in Austin, Texas.
- Panasonic has said one of its priorities for the U.S. is commercializing a new type of lithium-ion battery touted by Tesla Chief Elon Musk as “the world’s most advanced cell.”
- In April, the Oklahoma state Senate approved a bill that would grant up to $698 million in rebates and incentives to an extensive manufacturing facility operated by an unnamed company.
- Earlier, Tesla supplier Contemporary Amperex Technology Co Ltd launched an EV battery 13% more potent than Tesla’s 4680 battery to be made by Panasonic.
- Price Action: TSLA shares traded lower by 041% at $294.85 in the premarket on the last check Friday.
Nvidia, MicroStrategy, Cisco, Chubb, Tesla: Why These 5 Stocks Are On Investors’ Radars Today
Major U.S. indices surged on Wednesday, with the Dow Jones Industrial Average climbing 0.9% to 39,908, the S&P 500 increasing almost 1.2% to 5,308.15, and the Nasdaq rising 1.4% to 16,742.39.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
