PCRFY Panasonic Holdings Corporation (PK)

0654 GMT - Panasonic Holdings Corp. is the most mentioned company over the past 12 hours, according to Factiva data, after it said it will build a $4 billion electric-vehicle battery factory in Kansas. The U.S. state eclipsed Oklahoma for the factory, in part by offering a package of subsidies that includes tax credits and partial rebate of payroll of up to 10% a year. Panasonic Energy, a Panasonic unit that is Tesla Inc.'s main battery supplier, is vying for increased market share with larger South Korean and Chinese rivals even as the market grows. "Expanding battery production in the U.S. is critical to help meet demand," Chief Executive Kazuo Tadanobu said. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)

(END) Dow Jones Newswires

July 14, 2022 03:09 ET (07:09 GMT)

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