Panasonic Energy will begin construction in November 2022 of its new facility that will produce cylindrical Li-ion batteries for electric vehicles. The facility in De Soto, Kansas will be the Company’s second EV battery facility in the US, following the Panasonic Energy of North America facility in Sparks, Nevada.Initially, the new manufacturing facility in Kansas will expand the existing production of Panasonic’s 2170 EV batteries, which are currently in high demand from customers. Launching the facility with 2170 batteries ensures Panasonic can begin fulfilling customer orders quickly. Mass production is targeted to begin by the end of March 2025, with the initial production capacity of the new facility expected to be 30 GWh. In a phased approach, the Company will continue to strengthen its lineup of EV batteries and expand its production capacity in North America.