Shulou(Shulou.com)11/24 Report--

December 14, according to foreign media reports, electric vehicle startup Lucid Group has signed a multi-year battery supply agreement with Panasonic's core subsidiary, Panasonic Energy Company (Panasonic Energy Co., Ltd.).

Under the agreement, Panasonic will supply lithium-ion batteries to the Lucid Group, which will come from Panasonic's plant in Osaka, Japan and a new plant in de Soto, Kansas, USA, and will be used in Lucid Air cars and the upcoming Gravity SUV.

On November 2, Panasonic broke ground on a battery plant in Kansas that is expected to cost $4 billion and could create as many as 4000 new jobs. It will begin mass production of 2170 lithium-ion batteries in late March 2025, with an initial capacity expected to be about 30GWh.

Panasonic aims to quadruple electric vehicle battery production from its current level of about 500 gigawatt hours a year by fiscal year 2028.

The company is looking to build a third electric car battery plant in the United States, possibly in Oklahoma, which is also expected to cost $4 billion and create 4000 jobs.

The Lucid Group was renamed after Lucid Motors completed its merger with special purpose acquisition company (SPAC) Churchill Capital Corp IV on July 23, 2021, which aims to achieve production targets of 20000 vehicles in 2022 and 50000 vehicles in 2023.

According to the report, Lucid Group has used LG Chemical batteries on some Air versions, including Grand Touring, while it used Samsung SDI batteries in the original Dream Edition Air version.

Lucid Motors and Panasonic said Panasonic's batteries would be supplied to Lucid's "full vehicle series", so it was unclear which versions might retain batteries from existing suppliers.

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