Panasonic accelerates its expansion in the battery segment by announcing 600 billion yen, the equivalent of approximately 5 billion dollars, ready to be invested over the next three years in areas considered strategic by the Japanese company itself, such as those of batteries for electric cars and supply chain software. More precisely, about two thirds of these funds will go to growing segments, including that of electric vehicle cells, while the remaining one third to alternative technologies, such as hydrogen devices.
Thanks to these investments, according to Panasonic, the Japanese company will be able to achieve a operating profit of 1.5 trillion yen over the next three years. Yuki Kusumi, the company’s CEO, who has spent the last year driving Panasonic’s transformation process into a holding company that he believes will make it easier to decide where to invest for long-term growth, has set this new goal. “Extremely ambitious compared to past results”. One of the areas considered most profitable is that of batteries: not surprisingly, the Japanese company has been in negotiations for a long time for the construction of a new factory in the United States where it plans to build next-generation 4680 batteries for the likes of Tesla and beyond. According to what was reported by Autonews, the multi-billion dollar plant could start operating as early as 2024.
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