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Tesla supplier Panasonic cuts battery production in Japan by 60% due to weaker demand for EVs

Tesla supplier Panasonic cuts battery production in Japan by 60% due to weaker demand for EVs
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Tesla supplier slowing down electric car battery production

Tesla supplier slowing down electric car battery production
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United statesHirokazu umedaPanasonic group

Panasonic cuts battery unit s profit outlook, warns on high-end EV sales

TOKYO (Reuters) -Panasonic Holdings, which supplies Tesla, said on Monday it had cut automotive battery production in Japan in the September quarter and shrank the division's annual profit forecast by 15%, underscoring a global slowdown in EV sales. The energy unit made battery cells for Tesla's premium Model S and Model X that during the quarter came with a higher price tag than what would make them eligible for U.S. tax credits, said Panasonic's Group CFO Hirokazu Umeda. The unit slashed its o

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Panasonic EV Batteries Tumble to Loss on Tempered Tesla Demand

(Bloomberg) Panasonic Holdings Corp.’s automotive batteries operations fell to their first loss in three quarters on lackluster demand for Tesla Inc.’s Model S and Model X cars.Most Read from BloombergIsrael Latest: War Deepens as Concerns Mount Over Gaza CiviliansRussia Shuts Airport After Mob Encircles Flight From IsraelIsrael-Hamas War Escalation Puts Qatar’s Clout to the TestHSBC Plans $3 Billion Buyback, CEO Touts Capital StrengthIsrael Latest: Biden, Netanyahu Plan to Talk Within HoursD

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Panasonic cuts battery unit s profit outlook, warns on high-end EV sales – The Frontier Post

Panasonic cuts battery unit s profit outlook, warns on high-end EV sales – The Frontier Post
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