Panasonic Energy, battery -making, Q1 profit grows 47% year-on-year on AI boom
- AI investment offsets U.S. tariffs and EV tax credit termination
- Panasonic Energy maintains full-year profit forecast despite EV demand concerns
- Panasonic Energy invests in new battery tech amid competition from CATL, LG Energy
TOKYO, July 30 (Reuters) – Panasonic (6752.T), on Wednesday said first-quarter operating profit at its battery-making unit grew 47% as an AI investment boom offset the negative impact of U.S. tariffs and the termination of electric vehicle tax credits.
Profit at the unit, which makes batteries for Tesla (TSLA.O), and other EV makers, rose to 31.9 billion yen ($215.6 million).
- AI investment offsets U.S. tariffs and EV tax credit termination
- Panasonic Energy maintains full-year profit forecast despite EV demand concerns
- Panasonic Energy invests in new battery tech amid competition from CATL, LG Energy
TOKYO, July 30 (Reuters) – Panasonic (6752.T), on Wednesday said first-quarter operating profit at its battery-making unit grew 47% as an AI investment boom offset the negative impact of U.S. tariffs and the termination of electric vehicle tax credits.
Profit at the unit, which makes batteries for Tesla (TSLA.O), and other EV makers, rose to 31.9 billion yen ($215.6 million).
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Panasonic Energy, battery -making, Q1 profit grows 47% year-on-year on AI boom, source
