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Oklahoma’s $700 million rebate plan may be targeting a Panasonic battery factory

Oklahoma Gov. Kevin Stitt has called on lawmakers to approve a massive financial incentive package that is thought to have been added by an unnamed company affiliated with the state’s electric vehicle industry (EV), according to a statement. . Luckily and local media News 9. An undisclosed deal barred Chairman Stitt from disclosing the name of the company and the amount of money promised in the package – but there is good reason why this company could be Panasonic.

“Tens of billions of dollars will be invested in this area over the next five to seven years, and we want Oklahoma to be a place where these people can settle,” Stitt said. press conference. “But I tell you this, unless it is given to me, it will not be done.”

Shortly after Stitt Stadium in the state legislature, the Oklahoma House Joint Committee on Allocation and Budget developed. HB 4455 The Senate, a bill that provides $ 698 million in rebates and incentives to companies that meet certain criteria related to job creation and capital expenditures.

In March, an unnamed source told the Japanese news team NHK (via Bloomberg) that Panasonic is looking to build a factory in Kansas or Oklahoma to replace Tesla lithium-ion car batteries. Panasonic has already announced plans to begin mass production of new Tesla batteries By the end of March 2024, boosting productivity with the construction of two additional production lines at its Wakayama factory in Japan. Qarka She contacted Panasonic for comment but did not hear back immediately.

As mentioned Luckilyeven the other agents are not unique to Oklahoma red carpet company, which makes some disappointed.

“The governor has not spoken to us about the law, and it is very important that he would ask us to support something without giving us a bill or language number,” said Emily Virgin, Oklahoma House Minority Leader. Luckily).

Oklahoma is competing with acquired Kansas to settle the alleged deal with the Panasonic plant. In February, Kansas Gov. Laura Kelly signs $ 4 billion in “project plan” providing incentives for large corporations. Oklahoma has launched a massive (meme-full) campaign to bring Tesla Gigafactory to the state of 2020 lost by Texas.