Panasonic's CEO, Yuki Kusumi, mentioned that slowing electric vehicle (EV) uptake could delay the company's expansion in EV batteries. This delay may prevent Panasonic from building a third battery plant in North America soon. The company is experiencing a significant drop in demand for batteries used in specific models, leading to a profit warning. In response to slowing demand from Tesla, Panasonic plans to double its domestic production of EV batteries and focus on making more advanced batteries for carmakers like Mazda and Subaru. Meanwhile, Volkswagen is considering a slower ramp-up for its upcoming battery factories in Europe due to cooling EV sales in the region.
Volkswagen may push out how quickly its upcoming battery factories in Europe reach full capacity, as EV sales across the region cool https://t.co/LFKUiSfgiO
Amid slowing demand from Tesla, Panasonic aims to double its domestic production of EV batteries and is looking to modify production lines in Japan to make more advanced batteries that carmakers such as Mazda and Subaru are seeking. https://t.co/vlqBhPyydO
$TSLA Panasonic is out with profit warning tonight. CEO Yuki Kusumi says they are seeing "huge drop in demand for batteries used in specific models.” https://t.co/9FyOrbyjky https://t.co/gYRp88550l
$TSLA NEWS: Slowing EV uptake may delay Panasonic's EV battery expansion, CEO says. Kusumi's remarks may suggest Panasonic will not build a third battery plant in North America with its energy unit any time soon. It would probably take a while for the company to make a… https://t.co/v7oMDfgEy8
"Slowing EV uptake may delay Panasonic's EV battery expansion, CEO says" https://t.co/0DEJZ22vNB.
Slowing EV uptake may delay Panasonic's EV battery expansion, CEO says https://t.co/Y1HDlZ67xg https://t.co/egUwKvaZY2