Panasonic cuts profit outlook for its battery unit and warns of weak sales for high-end electric vehicles (EVs). The company has slowed battery production due to weaker EV business. Panasonic's EV batteries have reported their first loss in three quarters, primarily due to lackluster demand for Tesla's Model S and Model X cars. Onsemi also forecasts a weak fourth quarter due to slowing demand for EVs. The news has negatively impacted Tesla's stock, which has dropped 5% and is down 18% since its Q3 earnings report.
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/ZC2Og60sSi
Car Companies Are Suddenly Super Worried About the Future of EVs https://t.co/RA3ffvfy6A
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/jdW953hFGJ
Tesla falls as production cut by battery supplier Panasonic fans EV demand fears https://t.co/oJNb2zmUFE https://t.co/AOg5bc70zG
Tesla's stock dropped 5% today, here's why https://t.co/8Ki9uLeNot
$TSLA closed below $200, hitting a five-month low. What's weighing on the stock? 1️⃣ Battery supplier Panasonic cut production in Japan & guided its annual profit forecast down 15% 2️⃣ Chipmaker ON Semiconductor reported weaker-than-expected profit & revenue guidance https://t.co/qxDde8iQu4
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/Va8s4oYPHj
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/5mn1hS95MC
Americans aren't buying electric vehicles: "We continue to hear that the EV market is starting to really slow, the demand is starting to slow." https://t.co/OgevnjNyyc
Shares of On Semiconductor fall 20% as fourth-quarter guidance disappoints Wall Street https://t.co/SkL8rID8Q0
Shares of On Semiconductor fall 20% as fourth-quarter guidance disappoints Wall Street https://t.co/LbQ5ynMbIG
Tesla falls as production cut by battery supplier Panasonic fans EV demand fears https://t.co/i98JEjGXg8 https://t.co/Txjlb8V2qT
Panasonic's EV batteries tumble to their first loss in three quarters on lackluster demand for Tesla's Model S and Model X cars https://t.co/nZYeUtVC80 Future failure of industrial policy. How many battery companies do we need? Why do we subsidize them?
Auto makers have been warning for weeks about weak demand for electric vehicles. https://t.co/PEoDOs3nIH
Panasonic cuts battery unit's profit outlook, warns on high-end EV sales https://t.co/BRuEYZN6Co https://t.co/8dTBanrRTt
Onsemi forecasts weak fourth quarter on slowing demand for electric vehicles https://t.co/MxciUIDYD5 https://t.co/y5UGcppI06
Panasonic EV batteries tumble to loss on tempered Tesla demand https://t.co/gFheT694Lz via @business
Panasonic slows battery production amid weaker EV business, but Tesla looks good https://t.co/zmOxmmyvda by @fredericlambert
Panasonic cuts battery unit's profit outlook, warns on high-end EV sales https://t.co/qXu8d8u3H1 https://t.co/9fsJj9CN9V
Panasonic cuts battery unit's profit outlook, warns on high-end EV sales https://t.co/cLWTrSJAFF https://t.co/QADmVLB0fy
5 Reasons Why Electric Vehicle Sales Have Slowed https://t.co/VusuUwAs6z