New Factory Several media including Reuters reported that Panasonic will build a new battery factory in Kansas, the USA. Panasonic is a major Japanese multinational conglomerate corporation, headquartered in Kadoma, […]
Several media including Reuters reported that Panasonic will build a new battery factory in Kansas, the USA.
Panasonic is a major Japanese multinational conglomerate corporation, headquartered in Kadoma, Osaka. It was founded by Kōnosuke Matsushita in 1918 as a lightbulb socket manufacturer. The Japanese company was the world’s largest maker in the late 20th century. In fact, Panasonic offers a wide range of products and services. They include rechargeable batteries, automotive and avionic systems, industrial systems, as well as home renovation and construction.
Panasonic will invest 4bn USD in establishing a new factory in Kansas, the USA. Also, it will create 4,000 new jobs there. We think that this investment implies the sense of emergency of the company. In fact, according to the data, the Chinese battery manufacturer, Contemporary Amperex Technology Co., Limited (CATL), was the market leader. It had more than one-third market share from January to April in 2022.
Also, China has been securing rare metals such as Cobalt that are necessary for battery production. Therefore, in terms of supply chain, western countries also seek for the way to secure battery production. In this sense, this investment will make sense for both the USA and Panasonic.
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