Q1: Panasonic's battery unit profit sinks as sales reduces

02 Aug 2024 CW Team

Panasonic Holdings reported a 7% decline in its first-quarter operating profit, attributing this decrease to reduced sales in its battery-making energy unit and a drop in output at its automotive battery factory in Japan. Despite these challenges, the company maintained its profit forecast for the year. Operating income for the segment producing batteries for Tesla and other automakers fell by 27% year-on-year to $141.97 million. Overall operating profit for the quarter decreased to 83.7 billion yen. The energy unit incurred additional costs due to the construction of its automotive battery plant in Kansas, USA. This weaker performance highlights the impact of slowing demand for electric vehicles on the earnings of automotive battery manufacturers, particularly in the U.S.

The outlook for the EV sector in the U.S. remains uncertain due to the upcoming presidential election in November and potential future regulatory decisions affecting the industry. Panasonic Energy is working to expand its presence in North America, with a second U.S. plant in Kansas scheduled to begin production early next year, complementing another facility in Nevada that supplies batteries to Tesla. The unit faces competition from other Asian battery manufacturers, including China's CATL and South Korea's LG Energy Solution (LGES), which recently announced a forecasted revenue drop of over 20% for the year. Additionally, Panasonic Connect and Japan's Orix have announced a capital partnership agreement concerning the transfer of Panasonic's projector and display business.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..