Panasonic Energy, Lucid Group announce battery supply agreement

Panasonic Energy Co., a Panasonic Group (PCRFY) company, and Lucid Group (LCID) announced they have entered into multi-year agreements to supply batteries for Lucid’s award-winning luxury electric vehicle, Lucid Air, the fastest-charging, longest range EV on the market, and Lucid’s upcoming Gravity SUV. The agreement marks another milestone in Panasonic’s plans to expand production of lithium-ion EV batteries beyond Japan and into the U.S. with production coming from both a facility in Japan, as well as expected future production from its recently announced battery production facility in De Soto, Kansas.