Panasonic picks Kansas for new $4B electric vehicle battery factory
David Becker/Getty Images News

Panasonic (OTCPK:PCRFY) announced Wednesday that Kansas would be the location for a multibillion-dollar factory to produce lithium-ion batteries for Tesla (TSLA) and other automakers.
Panasonic Energy (OTCPK:PCRFY) said it plans to invest ~$4B to develop a site in De Soto, Kansas, for the potential project.
Kansas Governor Laura Kelly said the new factory would be the largest economic development project in the state's history, and would employ 4K people.
The new plant will be in addition to the Sparks, Nevada, Gigafactory, which Panasonic (OTCPK:PCRFY) jointly operates with Tesla (TSLA) and is one of the world's largest lithium-ion battery factories, and reasonably close to the new factory Tesla recently opened in Austin, Texas. 
Panasonic (OTCPK:PCRFY) CTO Shoichiro Watanabe told Reuters the company is seeking to increase battery energy density by 20% by the end of the decade.