It’s the largest economic development project in Kansas history. All the numbers associated with the new Panasonic battery plant at DeSoto — scheduled to open early next year — are gigantic: Up to $4 billion in investment. As many as 4,000 new jobs. More than $800 million in tax credits from the state. Panasonic is expected to have a transformative effect on the region and the state. Anything less, in fact, would be a major disappointment. There’s just one problem: President-elect Donald Trump appears on track to undermine Panasonic’s work before it has even begun. Trump — as has been widely reported — is contemplating rescinding the $7,500 federal tax credit for electric vehicles. That probably would depress the American market for EVs: Sales could fall as much as 27% if the credit goes away. “You can’t make a vehicle $7,500 more expensive and sell more of them easily,” one analyst told The New York Times this week. “People are only willing to pay so much.”
Source: Wichita Eagle
