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...The unit accounts for about 15 per cent of Panasonic’s sales for the latest fiscal year....
...Allan Swan, president of Panasonic Energy of North America, said the company was committed to building out a North American supply chain to “maintain stable sourcing” and “manage ongoing global logistics...
...Both companies agree that despite reports of slowing EV sales, there is a flurry of investment in batteries as carmakers such as Toyota try to catch up with other companies that moved more quickly into electric...
...Panasonic, the Japanese electronics group, cut its full-year profit outlook at its battery unit by 15 per cent, blaming slower-than-expected sales of high-end electric vehicles at Tesla, one of its most...
...Allan Swan, president of Panasonic Energy of North America, told Nikkei on the sidelines of CES that the Tesla supplier still needs “more plants” to reach its goal of increasing annual production capacity...
...EV sales forecasts based on IRA impacts could surpass 4.6mn by 2030, more than double the previous expectation of 2mn, according to S&P Global estimates....
...Ultimately, the company is planning to quadruple its EV battery capacity annually by 2031, mainly in North America....
...If the US is to achieve developed-country levels of road safety, America and Americans need to change direction....
...Encore brings with it $2.6bn of annual sales in low and medium voltage cables, mostly used in the building industry....
...While EVs now account for about one-third of new car sales in the world’s biggest car market, analysts and executives have predicted a period of consolidation to hit both legacy carmakers and scores of newer...
...Overcapacity is a chronic affliction of Chinese industrial policy....
...Sales of its EVs rose 55 per cent between 2022 and 2023 in the US, it said on Tuesday....
...As part of the agreed deal between International Paper and DS Smith, the US company said it would seek a secondary listing of its shares on the London Stock Exchange.The directors of DS Smith have given...
...He continues to hold 23 per cent of the shares of the company, which is listed in Hong Kong and valued at HK$31bn (US$4bn)....
...Known as “Project Titan”, Apple’s electric vehicle project was an example of its attempts to diversify beyond its hit product, the iPhone, which still makes up about half of its global sales....
...North America is the company’s largest market but overall sales there fell from $2.3bn in the fourth quarter of 2022 to $2bn in 2023, in connection with the consent decree....
...In October, WD Lab Grown Diamonds, America’s second-largest maker of synthetics, filed for bankruptcy. It has since had to shift its business away from retail towards industrial customers....
...Following months of delay, Nissan released a business plan on Monday addressing how a carmaker of its size — with relatively small annual sales of fewer than 4mn vehicles — would finance the costs of new...
...Those include brand damage from a series of testing scandals and the fact it has fallen behind rivals in the electric car race. Sales in North America and Europe were especially strong....
...GBA’s nearly 200 members include large companies from a range of sectors, including Nestlé USA, AstraZeneca, Diageo, Mercedes-Benz, Panasonic, Sony Corporation of America and chipmaker TSMC....
...The Japanese company is considering the possibility of a third US factory in addition to a second site it is building in Kansas. “They [Panasonic] don’t have to cut back. They have to scale up....
...The company last year had revenue of Rmb602.3bn ($83.2bn) from sales of just over 3mn vehicles, marking a fivefold increase from Rmb121.8bn in 2018....
...Apple and Tesla are the latest foreign companies to feel the pain of China’s shift towards local brands. Sales of Nike and Adidas clothing have yet to return to their 2021 peak....
...vehicle sales behind Tesla....
...The vote is a chance for shareholders to re-endorse Musk’s leadership of the company, at a time when Tesla’s sales have fallen in the face of slowing demand and rising competition....
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