Panasonic Plans to Invest $4.9 billion in EV batteries and Supply Chain Software

Share Us

630
Panasonic Plans to Invest $4.9 billion in EV batteries and Supply Chain Software
04 Apr 2022
6 min read

News Synopsis

The Japanese company, Panasonic is stepping into the emerging electric vehicle market. It plans to invest $4.9 billion in automotive batteries, supply chain software, and cyber physical systems, among others. The company further informed that to achieve its future goals, the group is to invest 400 billion yen (nearly $3.26 billion) in "growth areas" and 200 billion yen (about $1.63 billion) in "technology pillars" respectively in three years, from fiscal 2023 to 2025. The company stated: "While maintaining financial discipline, the group is to make group-wide strategic investments with the cash generated through enhancement of competitiveness, as well as the investments made by each operating company.”  It further informed that it will invest in the automotive battery area, supply chain software area, air quality and air conditioning area, hydrogen energy, and CPS (cyber physical system) as a part of its future growth strategy. The company is also expecting to generate a profit of 1.5 trillion yen. Last year, Panasonic inked an acquisition deal worth $7 billion with supply chain AI software provider Blue Yonder

TWN In-Focus