Reported 1 day ago
Panasonic Holdings has raised its earnings outlook for its energy unit, which supplies batteries to Tesla, by 14% to 124 billion yen due to increased sales in energy storage systems and improved profit margins at its U.S. plant. The company aims to enhance overall group profitability by over 300 billion yen and achieve a return on equity above 10% by March 2029, as it navigates a decrease in automotive battery sales and capitalizes on lower material costs. Additionally, Panasonic is planning to expand its operations in North America with a second battery plant set to open in Kansas this year.
Source: YAHOO