Panasonic opens a $4 billion EV battery plant in De Soto, Kansas, amid a cooling market influenced by new tariffs and the end of EV tax credits. CEO Megan Myungwon Lee remains optimistic, stating this commitment began four years ago and emphasizes the importance of navigating uncertain times. Despite market challenges, approximately 1,100 out of 4,000 planned employees have been hired. The company's manufacturing process is highly automated, yet it still requires a significant workforce to operate the Kansas factory efficiently.
This is a big, long-term commitment that started four years ago. Every CEO's job is to navigate and make decisions in very ambiguous and uncertain times.
I am not saying it's easy; but the current administration and previous administration believe in bringing technology into the market and creating manufacturing jobs, and that's what we do.
While the new policy environment might delay the timeline for ramping up to full production, about 1,100 of the 4,000 anticipated employees have been hired.
Our manufacturing process is already highly automated, and for the volume we produce, we will still need, at this point, a few thousand employees to run the factory in Kansas.
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