Panasonic Holdings, which makes electric car batteries for Tesla and other automakers, said on Wednesday it expects a rebound in global vehicle production this fiscal year and estimated the continued chip shortage will continue.
“We will manage our business considering the risks of fluctuations in vehicle production,” said Masashi Nagayasu, chief executive of the Japanese conglomerate’s automotive unit, which makes infotainment systems and other vehicle components, a separate sector of Panasonic’s battery business.
Nagayasu also said that Panasonic is not thinking about making vehicles. The executive participated in the first day of the company’s annual investor event.
Panasonic, which earns about 14% of total revenue through its automotive unit, expects area sales to increase 19% in the fiscal year ending March 2023. Operating profit is estimated to increase by 16.6%. billion yen.
Source: CNN Brasil
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