It appears that Tesla battery supplier Panasonic is working hard to secure the supply chain for its battery facilities in the United States. According to a recent press release, Panasonic Energy Co., Ltd. and Mitsui & Co., LTD entered into a framework agreement with Nouveau Monde Graphite Inc.
With the deal in place, Panasonic could obtain active anode material for its US based battery factory. The agreement is also expected to enable the next phases of development of NMG’s ore-to-battery integrated graphite project in Quebec, Canada.
As the Cut Inflation Act takes effect and the electric vehicle sector continues to grow in the United States, manufacturers now have more incentive than ever to seek local suppliers who could meet the requirements of the IRA. By doing so, manufacturers such as Panasonic could take advantage of the growing electrification growth opportunity in the region, according to NMG. Press release.
Interestingly enough, graphite is arguably one of the materials that offers the more opportunities for manufacturers. According to a report by Benchmark Mineral Intelligence, the graphite used by the electric vehicle industry is still heavily dominated by China. Players like NMG, which could help battery makers like Panasonic establish a local supply chain in North America, could play an increasingly important role in the years to come.
Kazuo Tadanobu, President and CEO of Panasonic Energy, released a statement on the company’s recent partnership with NMG.
“We are very pleased to participate in this strategic partnership with NMG, which will allow us to explore the possibility of establishing a green supply chain in North America through an entirely new integrated production of anodes in Canada.
“As the largest electric vehicle lithium-ion battery manufacturer in the North American market, given our advanced technology and deep experience, we aim to continue to drive industry growth and to accelerate towards a low-carbon society,” he said.
The full NMG press release can be viewed here.
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