Panasonic’s $4 billion EV battery plant will land in Kansas

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The Kansas governor's office said in a press release that Panasonic will build an EV battery plant that will bring up to $4 billion in investment to the state. Up to 4,000 jobs will be created by the plant and 4,000 more with suppliers and community businesses according to the press release.

Kansas and Oklahoma were both thought to be in the running for Panasonic's new battery plant. The $700 million package was approved without naming which company it would benefit.

The passing of the Attracting Powerful Economic Expansion Act in February was credited in the press release as the reason for the decision. This was the kind of megaproject that the Kansas Legislature had in mind.

According to the governor's office, the incentive package is worth up to $829.2 million and includes a $500 million investment tax credit and a $234 million payroll rebate. A lack of financial certainty may have been the difference for Panasonic. It is important to remember that all those numbers are tied to goals being met.

It is thought that the new factory will be bigger than Panasonic andTesla's. In February of this year, Panasonic announced that it would begin mass-produced batteries for the electric car maker.

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