Panasonic’s battery unit posts sharp rise in Q1 operating profit
A general view of the renovated Panasonic Energy factory in the city of Kinokawa, Wakayama prefecture, Japan, September 9, 2024. REUTERS/ Daniel Leussink
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TOKYO, July 30 : Japan’s Panasonic Holdings said on Thursday operating profit at its energy unit, which makes electric-vehicle and data-centre batteries, saw double-digit growth in the first quarter, boosted by higher sales of energy storage systems.
The profit for the key business posted a 28 per cent rise to 40.9 billion yen ($250 million). Panasonic maintained the annual profit forecast for the unit, which makes batteries for Tesla and other EV makers, at 171 billion yen.
($1 = 163.5800 yen)
Source: Reuters
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