Oklahoma looking to score multibillion-dollar factory investment for unnamed company

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Oklahoma is considering a bill that would give $698 million in rebates and incentives to companies who meet specific thresholds for job creation and capital expenditures.

A spokesperson for Panasonic told FOX Business it is "examining various growth strategies for our automotive battery business" but declined to comment on anything beyond its official announcements.

Representatives for Gov. Stitt and Tesla did not immediately return FOX Business' requests for comment. In March, electric vehicle production started at Tesla's Gigafactory Berlin-Brandenburg using nonstructural battery packs with 2170 cells. Tesla CEO Elon Musk said during the company's first-quarter earnings call on Wednesday that the facility will hopefully transition to 4680 cells later this year.

During the company's Cyber Rodeo opening party for its Gigafactory in Austin, Texas, this month, the company delivered its first Model Y vehicles with 4680 cells made in house and single-piece front body castings and structural battery packs. The company expects the Texas plant to produce Model Ys using both structural packs with 4680 cells and non-structural packs with 2170 cells later this year.

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing"Cyber Rodeo" grand opening party in Austin, Texas, April 7, 2022. If everything goes according to plan, Musk said Tesla would be in volume production with 4680 cells "towards the end of the third quarter and certainly in the fourth quarter."

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Is this why China has been seen buying up large plots of land in Oklahoma?

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