“We will continue to develop our businesses in China as we have done in the past,” Kusimi stated during a roundtable interview with reporters on Wednesday. China made up approximately 11.5% of Panasonic’s sales in the business year ending March, totaling 964.7 billion yen ($7.14 billion).

Outside of China, the Japanese electronics manufacturer is looking to capitalize on its domestic market. Kusimi claimed that Japanese auto manufacturers have expressed interest in Panasonic’s cylindrical batteries, meaning that the company may end up handling operations for them if auto manufacturers agree to do business with them.

This would not be Panasonic’s first foray into the automotive industry if successful. The company’s energy unit already produces batteries for Tesla and is looking to build at least two new plants for its 4680 battery production in North America by 2030.

The post China Remains a High-Value Market, Panasonic Insists appeared first on theprimarymarket.com.

“We will continue to develop our businesses in China as we have done in the past,” Kusimi stated during a roundtable interview with reporters on Wednesday. China made up approximately 11.5% of Panasonic’s sales in the business year ending March, totaling 964.7 billion yen ($7.14 billion).

Outside of China, the Japanese electronics manufacturer is looking to capitalize on its domestic market. Kusimi claimed that Japanese auto manufacturers have expressed interest in Panasonic’s cylindrical batteries, meaning that the company may end up handling operations for them if auto manufacturers agree to do business with them.

This would not be Panasonic’s first foray into the automotive industry if successful. The company’s energy unit already produces batteries for Tesla and is looking to build at least two new plants for its 4680 battery production in North America by 2030.

The post China Remains a High-Value Market, Panasonic Insists appeared first on theprimarymarket.com.