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Panasonic hikes battery-related capital spending, looking to build two plants in North America

Panasonic is laying the foundation for ramping up EV battery production. It announced on May 18 that it will boost capital spending on battery-related operations to JPY381 billion (US$2.75 billion) in the current fiscal year. The company also plans to construct at least two plants to make 4680 battery cells in North America by 2030.