Panasonic will not be building massive EV battery plant in northeast Oklahoma

Panasonic is pulling out of northeast Oklahoma.

Oklahoma Voice reports the massive company will not be building an electric vehicle battery plant in Pryor.

This after an April agreement with the state for nearly $700 million incentive package and funding millions of dollars in site improvements at the company’s request.

“After careful deliberations, we have made the decision not to move forward with developing the site,” Panasonic spokesperson Alison Klooster said in an email.

Back in July 2022, Panasonic selected Kansas as the location for a multi billion-dollar mega-factory to produce electric vehicle batteries for Tesla and other carmakers.

But officials did not say why they are no longer going forward with the plan in northeast Oklahoma after considering it these past several months.