Panasonic puts productivity boost ahead of new EV plant in US
Panasonic's battery Business must focus on boosting productivity , Group CEO Yuki Kusumi told Reuters, signalling the Tesla supplier may hold off building a third battery plant in North America as demand for electric vehicles cools. The battery unit, Panasonic Energy, had previously said, it aimed to decide on building the factory by the end of March. But Panasonic Holdings CEO Yuki Kusumi said in an interview that a decision would be made only "when the timing is right". "I keep telling people we need to think about thoroughly raising productivity before setting up a third location," he said on Friday at the company's Tokyo office. The comments come amid signs of cooling demand for EVs in the United States that have prompted some automakers, including General Motors and Ford, to scale back production plans. Panasonic Energy has a plant in Nevada and has broken ground on a second one in Kansas. In December it said Okla...