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- Panasonic Energy to Invest in NMG and Purchase Graphite in Multi-year Deal to Boost EV Battery Supply Chain in North America
Panasonic Energy to Invest in NMG and Purchase Graphite in Multi-year Deal to Boost EV Battery Supply Chain in North America
Panasonic Energy Co., Ltd has announced a seven-year graphite supply agreement Nouveau Monde Graphite Inc. (NMG), a manufacturer of anode active material. Panasonic Energy also plans to invest in NMG, beginning with USD 25 million.
Panasonic Energy is set to expand its EV battery production in North America, including increasing its use of locally sourced materials for a more sustainable supply chain.
Under a “mine-to-battery-material” model, NMG will produce natural graphite from its Matawinie Mine in Quebec to produce anode active materials at its battery material plant in Bécancour, Quebec. This vertically integrated model positions NMG as a partner to support Panasonic Energy’s plan to build a robust supply chain in North America.
NMG’s carbon-neutral graphite material will not only strengthen Panasonic Energy’s supply chain in North America, but also support the company’s goal of reducing its carbon footprint to 50% of its 2022 level by 2031. The governments of Japan and Canada deepened their bilateral partnership by signing a memorandum of cooperation (MOC) regarding battery supply chains in September 2023.
Panasonic Energy aims to support greater global adoption of EVs by providing high-quality, high-capacity batteries that will extend the driving range of EVs in the North American market.