US unit of Spain's ACS to build EV battery plant for Panasonic in Kansas


FILE PHOTO: A logo of Panasonic Corp is pictured at the Combined Exhibition of Advanced Technologies at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai

MADRID (Reuters) - A joint venture between the U.S. unit of Spanish engineering group ACS and Philadelphia-based Yates Construction has won a contract to build an electric vehicle (EV) battery plant in Kansas as part of a $4 billion investment by Japan's Panasonic group, the companies said on Wednesday.

The EV battery factory in the city of De Soto is expected to start operating by the end of March 2025 and will reach approximately 30 gigawatts-hour of annual production capacity, according to a statement by ACS' Turner Construction.

"The battery manufacturing facility is a critical part of Panasonic's investment in the United States to expand EV battery production capacity," the company said.

In addition to the assembly facility, the project will include construction of a central utility plant and support buildings, it added.

The new federal subsidy policies signed into law in August as part of the U.S. Inflation Reduction Act tie up to $3,750 per vehicle of federal tax credits to requirements that EV batteries be manufactured in North America using materials sourced there or from allied nations.

(Reporting by David Latona; Editing by Simon Cameron-Moore)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Atos says the group will need more cash than expected
TikTok to fight US ban law in courts
STMicro cuts FY revenue outlook as slowing car demand bites
Tesla driver in Seattle-area crash that killed motorcyclist told police he was using Autopilot
Spurred by teen girls, US states move to ban deepfake nudes
DR Congo accuses Apple of using ‘blood minerals’ from war-torn east
German police swoop on Nigerian dating scammers
74-year-old US woman charged in armed robbery of credit union was scam victim, family says
In which country do people spend the most time on screens?
How streaming is boosting esports

Others Also Read