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Panasonic Grows Lithium-Ion Battery Business for EVs

The electronics giant is attempting to shed its financial problems of recent years and expand sales in growing industries such as power for EVs, in-vehicle cameras and infotainment.

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NEWARK, NJ – Panasonic invests $150 million to expand lithium-ion battery production capacity in two Japanese plants in a bid to become a bigger player in the burgeoning electric-vehicle market.

The electronics giant recently passed the 100 million Li-ion-cell delivery mark to Tesla. Panasonic also supplies Li-ion cells to Ford for the Fusion EV and has a joint venture with Toyota to supply nickel-metal-hydride batteries for the Prius and other hybrid vehicles.

Panasonic is attempting to shed its financial problems of recent years and expand sales in growing industries such as power for EVs and in-vehicle cameras and infotainment, including rear-seat entertainment systems and head units. The company also aims to be a significant player in vehicle-to-vehicle communications as that market develops.

At last January’s Consumer Electronics Show, Panasonic announced a joint venture with General Motors for developing new information systems specifically designed for cars.

One of Panasonic’s Li-ion-cell plants is the Green Energy Park operation in Kasai, Japan. The facility in Western Japan is a showcase for solar-power generation; its solar panels produce enough electricity to power 300 households.
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