It appears that Tesla battery supplier Panasonic is working hard to secure the supply chain for its battery facilities in the United States. As per a recent press release, Panasonic Energy Co., Ltd., and Mitsui & Co., LTD have entered into a Framework Agreement with Nouveau Monde Graphite Inc.
With the agreement in place, Panasonic could secure active anode material for its US-based battery plant. The agreement is also expected to enable the next phases of the development of NMG’s ore-to-battery-market integrated graphite project in Québec, Canada.
As the Inflation Reduction Act comes into play and as the electric vehicle sector continues to grow in the United States, manufacturers are now more incentivized than ever to seek local suppliers that could meet the IRA’s requirements. By doing so, manufacturers such as Panasonic could take advantage of the rising electrification growth opportunity in the region, according to NMG’s press release.
Interestingly enough, graphite is arguably one of the materials that offer the most opportunity for manufacturers. As per a report from Benchmark Mineral Intelligence, the graphite used by the EV sector 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 coming years.
Kazuo Tadanobu, President & CEO of Panasonic Energy, issued a statement on the company’s recent partnership with NMG.
“We are very pleased to be participating in this strategic partnership with NMG, which will allow us to explore the possibility of establishing an environmentally friendly supply chain in North America through a completely new integrated anode production in Canada.
“As a manufacturer of EV lithium-ion batteries with the largest share of the North American market, given our leading technology and depth of experience, we aim to continue driving the growth of the industry and accelerating toward a decarbonized society,” he said.
NMG’s full press release can be viewed here.
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