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Panasonic CEO Says Battery Plans Align With Slower EV Demand
Yuki Kusumi in Las Vegas, US in January.
Panasonic Holdings Corp.’s decision not to rush into expanding capacity to build batteries has been validated by slower global demand for electric vehicles, Chief Executive Officer Yuki Kusumi said.
The supplier of lithium-ion batteries to Tesla Inc. is getting ready to start production at a second US-based factory in Kansas, but has frozen plans for a third plant. Panasonic has been making batteries in Nevada since 2017, helping the carmaker ramp up volume sales for Tesla’s Model 3 and Model Y cars.