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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.
